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Rerserve Bank of Australia interest rate decision early April 2007

Posted by Adrian on March 30, 2007

Possible interest rate hike.  From 4Cast

“Mar 07: 01:41GMT (SYD) – – Strong credit adds to April RBA nerves

Significant upside surprise in RBA private credit, +1.4% m/m against 1.1% consensus, softened only slightly by the 0.1% downward revision to the January outcome (1.2% from 1.3%). Upside surprise led by business borrowing, with housing credit relatively steady at +1.1%. The data can only add to the sense of nervousness about next week’s RBA decision, and these numbers have certainly increased the odds above the ‘45%’ median probability in the last Reuters survey. It really is at least a 50/50 call now though we still just favour a wait for the Q1 CPI print in late April. Lack of positive FX market reaction explained by the fact that market pricing (not economists odds) on a move next week were already well over 50% (this plus pressure from AUD/JPY sales). RA”
 

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