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Market pundits argue that interest rates are still going down, not up, because inflation is declining, albeit at a slower pace than many had expected.
The rise would go some way to walking back the worst week in six months. But attention is back on crucial inflation data that will point the way on rates.
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.
Fund managers and economists argue that the RBA’s hawkish bias was consistent and dispute the market’s surprise after it lifted the cash rate at its policy meeting.
Kapstream Capital has scored a new mandate from an $8.4 billion fund manager.