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VIEW: ANZ: RBA To Bring Forward Rate Timing On Higher Inflation Track

RBA

ANZ "think in next week's Statement on Monetary Policy the RBA will forecast inflation of 2% or more for the entire period out to the end of 2023. If so, its current forward guidance would no longer be tenable, and we would expect it to shift to expecting a rate hike in the second half of 2023. A change along these lines would likely see the yield target being dropped altogether. This makes Friday 11:15am a test of the RBA's possible new outlook. If it does not come in to buy the Apr-24 bond, despite trading well above the current 10bp target, it will be a clear signal of a change next week."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

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