Today is the Reserve Bank of Australia’s (RBA) decision day. Traders should anticipate a straightforward outcome, with no change expected to the current cash rate target, which remains at 3.60%.
The focus, however, is shifting towards 2026. The market has now fully priced in the possibility of at least one rate hike during that year. Specifically, there is currently a 33% chance of a hike occurring at the March meeting. This probability could be influenced by comments from RBA Governor Michelle Bullock, who has recently highlighted ongoing inflationary pressures.
The RBA announcement is scheduled for 2:30 pm Sydney time (03:30 GMT, 10:30 pm New York time), followed by a news conference at 3:30 pm Sydney time.
Additionally, three hours before the RBA decision, the November Australian NAB Business Confidence survey will be released, potentially offering further insights into the economic outlook.
This concludes the key events for this session. Eamonn is out this week, and I am covering for him.
Original Source: Adam Button of investinglive.com
