SINGAPORE, April 27 (Reuters) - Two of Australia's big four banks expect the benchmark cash rate will rise next week and a third sees increased risk of a hike after a surprisingly strong inflation reading on Wednesday.
National Australia Bank (NAB) and ANZ Bank (ANZ) pulled forward their lift-off forecasts from June to May and expect a 15 basis point hike next Tuesday. The Commonwealth Bank of Australia (CBA) said a cash rate hike was "a clear risk" but stopped short of shifting its forecast for a June hike.
Westpac (WBC) last week forecast a 40 bp hike in June. Data published on Wednesday showed inflation hit a two-decade high last quarter.
Swap-market bets on a 15 bp hike firmed about even to pricing about 90% chance the benchmark cash rate is lifted from a record-low 0.1% to 0.35%. RBAWATCH
News: WBC Australia banks pull forward hike calls after inflation surprise
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Last
$33.49 |
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-0.335(0.99%) |
Mkt cap ! $114.3B | |||
| Open | High | Low | Value | Volume |
| $33.58 | $33.66 | $33.29 | $20.70M | 619.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 1155 | $33.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.49 | 580 | 8 |
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| WBC (ASX) Chart |