RBA

The RBA used the last meeting of the year to hike interest rates by another 25bp – its eighth hike in as many meetings.

Whilst the potential for a pause cannot be ignored, I suspect the RBA are more likely to hike rates by 25bp tomorrow as they do not meet again until February.

The RBA’s November minutes lean towards 25bp hike/s with a pause along the way, with a 50bp hike likely requiring higher inflation expectations and wages.

The RBA were already one of the less hawkish central banks, but that hasn’t prevented them from hinting at a pause regarding rate hikes today.

With the RBA only hiking rates by 25bps at each of the last two meetings, the RBNZ is the more hawkish of the two central banks.

The RBA hiked their overnight cash rate by 25bp to 2.85% - its highest level since 2013. But inflation forecasts were also upgraded.

The RBA hiked their overnight cash rate by 25bp to 2.85% - its highest level since 2013. But inflation forecasts were also upgraded.

The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.

The RBA meets more often than many of its peers, and therefore, it felt justified in only raising rates by 25bps on October 4th.

After pivots by the RBA and the National Bank of Poland, questions are swirling over which central bank will be the next to pivot?

After pivots by the RBA and the National Bank of Poland, questions are swirling over which central bank will be the next to pivot?

The RBA delivered their sixth consecutive hike today, although at a slower pace than the consensus had pencilled in.

The RBA delivered their sixth consecutive hike today, although at a slower pace than the consensus had pencilled in.

The focus this morning for local markets has been on the RBA Board meeting minutes for September and for possible clues it contained as to the Board’s view around the pace of future interest rate hikes.

The ASX200 trades 106 points higher at 6836 at 2.55 pm Sydney time After trading to a seven-week low this week, the ASX200 has spectacularly rebounded today following a better session on Wall Street.

Whilst OPEC helped WTI rise to $90 yesterday, its price action appears corrective – which could leave the potential for a break to new cycle lows.

At its monthly meeting this afternoon, the Reserve Bank Board raised its official cash rate for a fourth consecutive time by 50bp from 1.85% to 2.35%.