Analysts are now very confident that the RBA will hike in...

Analysts are now very confident that the RBA will hike in August.

"Here are some of the key takeaways from their post-CPI reports:

• Morgan Stanley – “Across most measures, the broad story remains consistent though - inflation has not slowed at all this year from a ~4% rate, either in annual terms or sequentially … We think this risk has now crystallised and forecast a hike in August to 4.6%."
• Morgan Stanley – “Should our additional rate hike call become consensus, the potential harder landing that comes with that is not priced into earnings multiples in our view and will pressure Index direction."
• ”UBS – “Our new CPI forecasts make a rate hike in August a ‘close call’ … However, we see enough evidence to change our base case view. Hence, we now expect the RBA to hike the cash rate 25 bps in August to 4.6%.”
• Citi – “We believe the Board will be forced to hike by another 25 bps in the August Monetary Policy Meeting …”
• Citi – “Though risks are tilted towards another hike if inflation doesn’t behave according to the Bank. The RBA is now in serious risk of not hitting its inflation target by the end of 2025. Overall, we still see 100bps worth of rate cuts next year starting Q1, with risks of it occurring later in the year.”

Personally I'll believe a rate hike when I see it, the RBA are overpaid clowns.