Economist Lee Sue Ann at UOB Group sees the RBA maintaining its OCR at 4.10% at its event on October 3. Key Takeaways We continue to believe that the
We continue to believe that the RBA will keep policy unchanged at the Oct meeting, although we are penciling in a chance that it will hike one last time this year, taking the cash rate target to a peak of 4.35%. In terms of timing, this is likely to occur at the 7 Nov meeting, following the release of the 3Q23 CPI on 25 Oct.
Another factor that could prompt the RBA to hike once more is the risk that wages in the third quarter could spike higher after a large mandated increase in the minimum and award wages.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD is consolidating in a narrow range below 1.0600 in early Europe on Monday. The pair keeps its calm amid a steady US Dollar, higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech in focus. GBP/USD struggles to gain any meaningful traction and oscillates in a narrow trading range.
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