I posted this earlier:
The big event today is the RBA meeting, but expectations of any rate changes are very low (19% chance of a 25 basis point rate cut is the latest market pricing). The announcement is at 2.30pm local time (0430GMT), attention will turn to the accompanying statement for hints about when we might expect a change in the future.
Just reposting/updating for those who may have missed it.
Bloomberg’s survey of 28 economists have all but 3 calling for rates to remain unchanged at 2.75%
Three are calling for a cut to 2.5%: Goldman Sachs, Nomura, and RBC.
The latest OIS pricing now has just a 14% chance of a cut of 25 basis points today.
