Market Movers Daily Digest: AUD shows resilience as markets react to RBA's hawkish hold
- The Reserve Bank of Australia distinctly announced its decision to maintain the rates at 4.35%, emphasizing that "the Board is not ruling anything in or out."
- The RBA also stressed the necessity to stay alert for potential inflation risks.
- Notably, updated macro forecasts predict inflation will persist longer, with trimmed mean and headline CPI inflation anticipated to approach the midpoint of the 2-3% band by December 2026 as compared to the June 2026 forecasts in the earlier May forecasts.
- Dovish bets backed away, and markets are now only pricing in 25 bps of RBA easing in 2024
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