Interest rates: Economists favour an RBA rate increase in July
Bond traders ascribe less than a 50/50 chance of an RBA rate increase in July, sending the Australian dollar to US68¢.
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Bond traders ascribe less than a 50/50 chance of an RBA rate increase in July, sending the Australian dollar to US68¢.
The country’s central bank lifted the cash rate by a quarter of a percentage point to 5.5 per cent, as expected, but its dovish tone caught markets off guard.
The UK’s central bank said it wouldn’t rush through an emergency interest-rate increase, prompting another bond and sterling sell-off.
Bonds and stocks dived, and the Australian dollar struggled after red-hot US inflation stoked worries of an even more aggressive Federal Reserve tightening.
Kapstream Capital portfolio manager and head Steve Goldman has handed in his resignation after 12 years at the firm.