The Reserve Bank’s March policy decision will be greeted with more nerves than usual after bond traders were wrong-footed by last month’s hawkish shift, lifting peak rate expectations above 4 per cent.
Another 0.25 percentage point lift is all but priced in for Tuesday’s board meeting, bringing the official cash rate to a decade-high of 3.6 per cent.
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Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at jo.tran@afr.com