Is an RBA hike an emerging possibility?
The RBA kept rates on hold but discussed the idea of raising rates. Skye Masters says NAB is sticking with its expectation that the first move will be a cut in November.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 8th May 2024
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NAB is still expecting that the RBA’s next move will be a cut in November, because yesterday’s meeting did raise the possibility of a rate hike if inflation remains too persistent. NAB’s Skye Masters says the market reaction was tame because none of this came as a surprise. We’ve known that inflation was taking time to come down, and the revisions to the RBA’s inflation forecasts yesterday simply reaffirmed that belief. Neel Kashkari from the Minneapolis Fed also spoke of the possibility of a hike if inflation and jobs remained strong. In Europe it’s a different story and there’s a real possibility that the Riksbank will cut rates today.
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