Daily Market Notes
Unanimous, Fully Priced, and the Aussie Finished 33 Pips Lower. The Statement and the Governor Did Not Agree.
The RBA hiked 25bp to 4.60% at 04:30 UTC, unanimously, with money markets at 93% going in. An hour later Governor Bullock said maybe no more rises are needed — and AUD/USD finished Tokyo at 0.6978, 33 pips below where it stood before the hike. The written statement kept the tightening bias; the Governor withdrew it. And we refused to publish a hike probability yesterday: the series ended at 93%, so the refusal was right.