It's decision day for the Reserve Bank of Australia.
Unfortunately for us, the decision itself will be drama free with no change in the 3.60% case target expected whatsoever. What's starting to get interesting is 2026 as the market is now fully priced for at least one rate hike. At the March meeting, there is a 33% chance of a hike priced in and that could swing today based on Governor Michelle Bullock, who has noted inflationary pressures recently.
The decision is at 2:30 pm Sydney time or 0330 GMT or 10:30 pm in New York. There is a news conference an hour later.
Three hours before the RBA decision, we get the November Australian NAB business confidence survey.
That just about wraps up what we're expecting for the session. Eamonn is out this week and I'm covering for him.
