Reserve Bank of Australia Does Not Rule Out Future Hikes

The Reserve Bank of Australia kept rates unchanged at 4.35% as widely expected by analysts, keeping rates at the highest level since May 2012. RBA Governor Bullock sounded as there was in no hurry to cut rates describing rate risks as “fairly balanced” with inflation still “too high” and said, “a further increase in interest rates cannot be ruled out.” The messaging from the RBA was “we are not ruling in anything or out anything” and “need to stay the … Continue reading “Reserve Bank of Australia Does Not Rule Out Future Hikes”

Reserve Bank of Australia Leaves Rates Unchanged at 4.35%, Leans Dovish

The Reserve Bank of Australia kept rates unchanged at 4.35% as widely expected by analysts after last month’s 25bps hike which was the RBA’s 13th cash rate hike since they began this hiking cycle in May of 2022. The cash rate at 4.35% is the highest level since May 2012. Of note was the more dovish tone and the nod towards data dependance; “Whether further tightening of monetary policy is required to ensure that inflation returns to target in a … Continue reading “Reserve Bank of Australia Leaves Rates Unchanged at 4.35%, Leans Dovish”

Reserve Bank of Australia Raises Rates to Ten Year High 4.35%, Inflation Pressures Cited

The Reserve Bank of Australia announced a +25bp interest rate hike, as widely expected by analysts after last month’s inflation reports. It is the RBA’s 13th cash rate hike since they began this hiking cycle in May of 2022. The OIS market had been pricing the probability of a rate hike at 50/50. The cash rate at 4.35% is the highest level since May 2012. Prior to this meeting the RBA has left the cash rate unchanged at four consecutive … Continue reading “Reserve Bank of Australia Raises Rates to Ten Year High 4.35%, Inflation Pressures Cited”

Reserve Bank of New Zealand Leaves Rates Unchanged, Extending its Hawkish Pause

The Reserve Bank of New Zealand extended its hawkish pause as expected. Fresh explicit forward guidance will be published at its next meeting on November 28th. The RBNZ left its Official Cash Rate unchanged at 5.50%. Consensus almost unanimously expected no change. The bank’s committee members agreed the level of interest rates are constraining spending and inflation pressure. The RBNZ last meeting saw the terminal official cash rate again at 5.57% in September 2024. The committee agreed that interest rates … Continue reading “Reserve Bank of New Zealand Leaves Rates Unchanged, Extending its Hawkish Pause”

RBA Holds Rates at Ten Year High 4.10%, For Fourth Straight Meeting

The Reserve Bank of Australia left rates unchanged at the October meeting in line with the OIS market pricing the probability of no rate hike unanimously. The cash rate at 4.10% is the highest level since May 2012. It is the first time since March-April last year that the RBA has left the cash rate unchanged at four consecutive meetings. Tuesday’s board meeting was also the first chaired by new RBA governor Michele Bullock who began the role on September … Continue reading “RBA Holds Rates at Ten Year High 4.10%, For Fourth Straight Meeting”

RBA Holds Rates at Ten Year High 4.10%, For Third Straight Meeting

The Reserve Bank of Australia left rates unchanged at the September meeting in line with the OIS market pricing the probability of no rate hike unanimously. The cash rate at 4.10% is the highest level since May 2012. It is the first time since March-April last year that the RBA has left the cash rate unchanged at three consecutive meetings. Tuesday’s board meeting was also the last chaired by RBA governor Philip Lowe, whose seven-year term ends next week. Michele … Continue reading “RBA Holds Rates at Ten Year High 4.10%, For Third Straight Meeting”

Reserve Bank of New Zealand Leaves Rates Unchanged 5.50%, Restrictive Rates Seen

The Reserve Bank of New Zealand left its Official Cash Rate unchanged at 5.50%, as expected. Consensus almost unanimously expected no change. The bank’s committee members agreed the level of interest rates are constraining spending and inflation pressure. The RBNZ saw the terminal official cash rate again at 5.57% in September 2024. The committee agreed that interest rates will need to remain at a restrictive level for the foreseeable future. Inflation remains too high. The RBNZ was the first central … Continue reading “Reserve Bank of New Zealand Leaves Rates Unchanged 5.50%, Restrictive Rates Seen”

RBA Holds Rates at Ten Year High 4.10%, For Second Straight Meeting

The Reserve Bank of Australia left rates unchanged at the July meeting in line with the OIS market pricing the probability of a rate hike at ~34%. Poll expectations were for a 25bps hike. The cash rate at 4.10% is the highest level since May 2012. It is the first time since March-April last year that the RBA has left the cash rate unchanged at two consecutive meetings. The RBA said inflation in Australia is declining but is still too … Continue reading “RBA Holds Rates at Ten Year High 4.10%, For Second Straight Meeting”

BHP Record Full Year Iron Ore Output, Copper Production Up 9%

Australian mining giant BHP, said on Thursday quarterly iron output at 72.7 mln metric tons. This put annual iron ore output for FY23 at 285.3 mln metric tons, a record. Quarterly iron ore output rose, aided by a continued ramp-up at its South Flank project. South Flank is on track to hit full capacity by end 2024. BHP said unit costs at its Western Australia iron ore operations and Chilean copper mine Escondida are expected to be towards the upper … Continue reading “BHP Record Full Year Iron Ore Output, Copper Production Up 9%”

Reserve Bank of New Zealand Leaves Rates Unchanged 5.50%, Inflation Remains Too High

The Reserve Bank of New Zealand left its Official Cash Rate unchanged at 5.50%, as expected. Consensus almost unanimously expected no change. The bank’s committee members agreed the level of interest rates are constraining spending and inflation pressure. The RBNZ saw the terminal official cash rate again at 5.5% in June 2024. The committee agreed that interest rates will need to remain at a restrictive level for the foreseeable future. Inflation remains too high. The RBNZ was the first central … Continue reading “Reserve Bank of New Zealand Leaves Rates Unchanged 5.50%, Inflation Remains Too High”