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VIEW: Sell-Side Points To Potential For 40bp Hike In June

RBA

The first sell-side views have started to trickle in after today’s RBA decision:

  • NAB notes that they “will assess the Governor’s appearance but sees a high risk of a 40-50bp rise at the June meeting, a 25bp move in July or no move in July and a 50bp move in August after a very high Q2 CPI. This would leave the cash rate at 1.25% in August and 1.50% by year end. We continue to assess that market expectations of a 3.40% cash rate in mid 2023 are too high too quickly given Australian households’ high level of personal debt.”
  • ANZ note that “a move of 40bp in June to take the cash rate target to 0.75% seems a distinct possibility.”
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
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