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VIEW: RBC Now See Lift Off In June

RBA

RBC note that “testing full employment and amid more hawkish global central banks, we bring forward RBA lift-off slightly to Jun (from Aug). We stick with 3 hikes this year with cash at 0.75% end-‘22 and a similar path to a 1.50% terminal rate. We recommend going tactically short May IBs at 99.88 as markets are likely to further bring forward and add to hike expectations in 2022.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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