To Pause or Not to Pause? That is the RBA question.
NAB’s Skye Masters says falling Aussie bond yields suggest there’s a strong expectation the RBA will pause after today’s hike. But what if they signal something different?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 7th March 2022
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Australian bond yields fell sharply yesterday ahead of the RBA meeting today. NAB’s Skye Masters says this shows there’s an expectation that the central bank will pause after today’s rate hike and we can expect some repricing in bonds if they instead signal a series of consecutive hikes. The uncertainty around what central banks do next was demonstrated by the ECB overnight, with speakers still divided between hiking, if so by how much, or pausing. As to the latest Fed thinking, Jerome Powell’s testimony tonight (Australia time) will be particularly important.
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