RBA Crushes Households As Bond Vigilantes Ride In!

Yesterdays RBA Monetary Policy Board unanimous decision to hold rates at 3.6% and Michelle Bullocks calling the end to a truncated easing cycle meeting after delivering 75 basis points of cuts between February and August, at the press conference which followed, was significant in that rate cuts are off the table now, and it’s a toss-up between an extended interest-rate pause or a switch to lifting rates in the light of sticky inflation. “I don’t think there are interest rate cuts on the horizon for the foreseeable future,” Bullock told reporters. “The question is, is it just an extended hold […]