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This is a great point. The increased number of opportunities to raise the interest rate could mean that the RBA isn't under as much pressure to tighten as aggressively as some other central banks.The soft Q2 CPI print did result in traders cooling bets on a 75bps hike this month, with the market now seemingly expecting a third consecutive 50bps. However, the tight labour market, combined with the RBA’s continued shift towards a more hawkish rhetoric, does still add some uncertainty to today’s decision.
This is a great point. The increased number of opportunities to raise the interest rate could mean that the RBA isn't under as much pressure to tighten as aggressively as some other central banks.
The soft Q2 CPI print did result in traders cooling bets on a 75bps hike this month, with the market now seemingly expecting a third consecutive 50bps. However, the tight labour market, combined with the RBA’s continued shift towards a more hawkish rhetoric, does still add some uncertainty to today’s decision.
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