The Japanese Ministry Of Finance (MoF) sells Y525.5bn 30-Year JGBs: * Average Yield (%): 3.427 (pre...
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The AUD went into the RBA meeting trading around 0.6535(-0.05%) and the SPI was trading around 8836.0(-0.75%).”RBA LEAVES CASH RATE TARGET AT 3.60%; EST. 3.60%, MAY BE ‘LITTLE MORE’ CORE INFLATION PRESSURE THAN THOUGHT." The AUD has moved a few spreads lower as the market was perhaps looking for a more hawkish outcome.
The RBA left rates at 3.6% as was widely expected. It sees trimmed mean inflation above the 3% top of the band until end-2026 and not returning to close the 2.5% mid-point until 2027. The further out a forecast is, the greater the uncertainty around it. See statement here. More details to follow.