RBA’s ‘Bias Index’ shows aggressive rate hike expectations being undone

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RBA's 'Bias Index' shows aggressive rate hike expectations being undone
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The information comes from ANZ analysts and their Reserve Bank of Australia outlook “bias” index.

  • Market prices edged closer to RBA tone as aggressive rate hike expectations unraveled
  • Despite a price change after last week’s statement, the market is ahead of the RBA’s rhetoric, continuing the disparity of this tightening cycle.

Further from ANZ:

  • Interestingly, our RBA Bias Index did not decline after last week’s post-meeting statement. Points out that the RBA statement still had hawkish elements to offset the removal of “normalization.” Market prices are always ahead of RBA parlance.

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