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Virtually Unchanged Post-RBA

AUSSIE BONDS

YM and XM virtually unchanged post-RBA, jostling around pre-decision levels, with caution re: Ukraine offsetting any potential uptick in worry re: headline inflation owing to energy price dynamics (the sort of price pressures that can’t be fixed by rate hikes). Still, it was a statement that didn’t contain much in the way of fresh meaningful information, with the Bank reaffirming its willingness to be patient, while it pointed to previous forecasts when it came to underlying inflation (granted, it wasn’t an SoMP-linked decision). YM -0.5 and XM -4.5 at typing.

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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