ANZ were previously forecasting a 25bp hike in December but have dragged it forward to November.

  • +25bp on November 7
  • to take the cash rate to 4.35% from its current 4.1%

ANZ, in brief:

  • Given the RBA's hawkish rhetoric over the past two weeks and an uncomfortably high Q3 CPI (1.2% q/q for both headline and trimmed mean), we now expect the RBA to increase the cash rate by 25bp in November to 4.35%.
  • Thereafter we expect a hawkish extended pause.

In response to:

I concur:

AUD/USD update:

audusd anz rba forecast rate hike 25 October 2023