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The ASX’s most recent data shows 79% of survey respondents expect the RBA to keep the official cash rate at 2.75% at its meeting tomorrow, while 21% expect a reduction to 2.5%.
As at June 28, the ASX 30 Day Interbank Cash Rate Futures July 2013 contract was trading at 97.300, indicating a 21% expectation of an interest rate decrease to 2.5% at the next RBA Board meeting.
The table below highlights how market expectations of an interest rate decrease at the next RBA Board meeting has evolved over the past five days.
|
Trading Day |
No Change |
Decrease to 2.5% |
|
24 June |
81% |
19% |
|
25 June |
77% |
23% |
|
26 June |
77% |
23% |
|
27 June |
77% |
23% |
|
28 June |
79% |
21% |
