Four Banks Agree the Rate Check Was About Pace. Three Feeds Put Spot 77 Pips Apart.
Four houses read Friday's rate check the same way — the Ministry is watching pace over a rolling window, not defending a level.
MUFG's "every three months" cadence, anchored on 18 September, points at December rather than October. And three feeds put spot 77 pips apart with mutually impossible day ranges, which is the error bar on any pace calculation.