Three of Australia’s four major banks now expect a 25bp RBA rate hike on Feb 3, with ANZ joining NAB and CBA after strong CPI data. Market pricing for a hike has risen to about 73%.
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PBOC sets USD/ CNY central rate at 6.9755 (vs. estimate at 6.9231). 6.9755 the strongest for CNY since 17 May, 2023
Australian CPI surprised to the upside in December, with trimmed mean inflation at 0.9% q/q and 3.4% y/y. Services inflation accelerated, strengthening the case for a 25bp RBA rate hike in February.
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