Writing in the Australian Financial Review, a journalist who seems to have good connections into the RBA says:
- A series of interest rate rises starting in June now looks to be the Reserve Bank of Australia’s destiny, after the central bank dropped its willingness to be “patient”.
Critical dates ahead are:
- A reasonable wage price index on May 18 and decent average earnings in the national accounts on June 1 will be sufficient for governor Philip Lowe to pull the trigger much earlier than he had expected.
Link to the AFR piece is here (may be gated)
ICYMI - the RBA statement yesterday pivot to hawkish:
- RBA ... have dropped the notice on being "patient" in monitoring how inflation developments will proceed in the months ahead.
- There are just a couple of changes by the RBA to their statement today but it is making a big difference as they start to lean towards being more hawkish.
- The next Australian CPI release will be on 27 April
AUD traded up on the statement yesterday and fell overnight on Brainard:
