Economists at ING analyze Aussie’s outlook ahead of the Reserve Bank of Australia’s Interest Rate Decision.
A hike by the RBA We expect a 25 bps increase to 4.35%. For now, our view is that this will be the last hike of the cycle.
Consensus is almost fully aligned with our view for a hike, but markets are pricing in a 50% implied probability. We therefore see upside risks for AUD. The recent jump in AUD/USD could extend into the 0.6550/0.6570 area, barring a USD rebound in today’s session.
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