CBA raise #RBA terminal rate to 3.85% from 3.35%
Via Gareth Aird, head of Australian economics at CBA
The surprise was not in the decision, but rather the shift in tone and forward guidance in the Governor’s Statement
This change implies that the RBA Board has essentially made up their mind and intend to raise the cash rate further over coming months, if the economic data prints in line with their updated forecasts