CBA stick with its call for a June 2022 RBA rate hike

CBA's head of Economics Aird remarks (via Reuters) in the wake of the strong jobs report earlier today:

• "Its an incredibly strong set of numbers"

ICYMI, the data is here:

Australia Feb Employment change +77.4K (expected +37K) & Unemployment 4.0% (expected 4.1%)

CBA says there is a clear risk the RBA will drop its current commitment to remain patient on moving rates higher at the April meeting (April 5 is the Reserve Bank of Australia monetary policy meeting). And then,

• We anticipate the RBA will move to an explicit hiking bias at the May board meeting

And then a hike in June.

CBA had made the June call back in mid-February:

• CBA see the cash rate hikes continuing after this. See 1.25% by Q1 2023

RBA Gov Lowe:

aud