On the Reserve Bank of Australia, ANZ:

  • Despite a dovish shift in market pricing for the RBA, from 12bp for the RBA’s April decision last week to 0.9bp today, we still expect the RBA to increase the cash rate by 25bps, in both April and May.
  • This would bring the cash rate to 4.1%

ANZ illustrate the market pricing:

rba mmarket pricing cash rate


Westpac take a different view: