Ann: Quarterly Activities Report, page-46

The markets fully expect at least 2 to 3 more interest rste rises here. That is baked in to expectations and markets.
Over the short term, MNB has a habit of doing its ownthing. Ie, while it did correct overall in line with last year's bear market, there are plenty of days when the market is up and MNB is flat or down and other days when the market is down and MNB is up strongly. If news drops, a half to 1 percent move on the ASX won't stop MNB from responding to the news. In the meantime there doesn't appear to be too many sellers in any hurry to get out.