NAB ups RBA cash rate forecast to 2% by Dec (from 1.35%)
By Sophia Rodrigues
Published On 07 Jun 2022 , 04:15 PMEconomists at National Australia Bank are revising up their RBA cash rate forecast following the 50bps hike on Tuesday. NAB now expects the cash rate to reach 1.6% to 1.85% in the next two months (hikes of 75bps-100bps), and for the cash rate to touch 2% by December. NAB will publish a formal profile on Wednesday.
Previously NAB's forecast was for the cash rate to reach 1.35% by December.
"Our reading of the Statement suggests the RBA is now inclined to more quickly return monetary policy to a more neutral setting, which we see as in the 2-2.5% range," NAB wrote in a note. But it also reiterated: "We continue to think that cash rate pricing near 3.2% by Christmas and 3.85% in August next year, looks excessive."
LATEST SNIPPETS
AOFM to tender A$4B of bonds, A$3B of Notes next week
The AOFM has announced tenders for next week, totaling A$5.0 billion of bonds (down from A$4.0 bi...
Published on : 26 Jun 2020 , 12:17 PMAOFM sells April 2026 bond at record high coverage
The AOFM sold A$1.0 billion of 4.25% April 2026 government bond at a weighted average yield of 0.4790%.&nbs...
Published on : 26 Jun 2020 , 12:12 PMRBA Lowe to speak at Anika Foundation fundraising webinar July 21
The annual Anika Foundation fundraiser is being held as a webinar this year on July 21 from 1245 pm, with a...
Published on : 25 Jun 2020 , 02:39 PMAOFM sells April 2029 at 0.8450%
The AOFM has sold A$2.0 billion of 3.25% April 2029 government bond at a weighted average yield of 0.8450%....
Published on : 24 Jun 2020 , 11:08 AMAOFM sells April 2024 at 0.3003% vs record low 0.2818%
The AOFM sold A$2.0 billion of 2.75% April 2024 government bond at a weighted average yield of 0.3003%, hig...
Published on : 22 Jun 2020 , 02:00 PMCB-Intel tweets from RBA Lowe's panel participation
--At some point higher AUD could be a problem but we haven't reached the point yet
--Would like lower AUD...
AOFM to tender A$5B of bonds, A$3B of Notes next week
The AOFM has announced tenders for next week, totaling A$5.0 billion of bonds (up from A$4.0 billion f...
Published on : 19 Jun 2020 , 12:05 PMAOFM sells 3.25% April 2025 bond at record low yield
The AOFM has sold A$2.0 billion of 3.25% April 2025 government bond at a weighted average issue yield...
Published on : 19 Jun 2020 , 11:04 AMAOFM sells May 2032 at 1.0098% vs 1.17% at last tender
The AOFM has sold A$2.0 billion of 1.25% May 2032 government bond at a weighted average issue yield of 1.0098%,...
Published on : 17 Jun 2020 , 11:06 AMAOFM tender amounts for next week same as this week
The AOFM has announced tenders for next week, totaling A$4.0 billion of bonds and A$3.0 billion o...
Published on : 12 Jun 2020 , 12:08 PM