Australian RBA Interest Rate Decision 4.85% vs. Exp. 4.85% (Prev. 4.60%) A 25bp hike delivered exactly in line with consensus is the least disruptive class of central bank outcome: the front end and the currency take their cue from the statement and press conference rather than the print itself, since the rate move is already in the price. What has historically repriced the curve on in-line decisions is the forward language, whether the board frames this as a further step in an ongoing tightening sequence or as a conditional adjustment that leaves the next meeting genuinely live in both directions.
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