JGBS AUCTION: Strong 30Y Auction Result
The 30-year JGB auction delivered strong results. The low price exceeded dealer expectations of 96.4...
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AUSTRALIA: Reaction To RBA
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.
- AUD/USD - 0.6525, -0.20%
- AUD/NZD - 1.1450, +0.05%
- EUR/AUD - 1.7665, -0.20%
- AUD/JPY - 100.55, -0.25%
- SPI(XPU5) - 8856, -0.50%
RBA: Rates Unchanged, Core Inflation Above Band Until Q4 2026
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.
MNI: RBA LEAVES CASH RATE AT 3.6%
- MNI: RBA LEAVES CASH RATE AT 3.6%
