An RBA cut in November now unlikely, says TD Securities
Analysts at TD Securities go further and scrap their call for the RBA to cut interest rates in November, seeing a rate cut now not materializing till February 2025.
“We now expect the RBA to deliver its first cut in Feb’25. The RBA is likely to adopt a more hawkish stance, but one that it's loath to act upon. Paying Aug'24 RBA OIS as insurance makes sense,” says TD Securities.
If they are right then this is likely to fuel an even stronger rise in AUD/USD.
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