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RBA Expected to Hike OCR Rate in June Despite Lowe’s Dovish Comments – Bloomberg Survey

Markets remain unperturbed by recent dovish comments from Reserve Bank of Australia (RBA) Governor Phillip Lowe, while continue to price in rate hikes sometime this yearthe latest Bloomberg survey of economists showed on Thursday.

Key comments

Nomura Conglomerates Inc. and Bank of America predict the first rate hike to come in June, while another nine point to Augustaccording to a Bloomberg survey of 18 economists, who expect an initial movement of 15 basis points at a rate of 0.25%“.

“All but one of the rest of the respondents predicted a first rate hike later in the year.”

“Most economists they see the rates in a range of 1-1.5% for December 2023from the current historical low of 0.1%”.

“Financial markets are betting that Lowe will start to hike in June and take rates to 2% by the end of next year.”

Source: Fx Street

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