Bond traders have aggressively ramped up bets for back-to-back rate cuts early next year after the Reserve Bank of Australia said it was gaining some confidence that inflation was moving sustainably towards its target.
At its last board meeting of the year on Tuesday, the central bank as widely expected kept the cash rate at a 13-year high of 4.35 per cent because inflation was still too high.
Source: https://www.afr.com/markets/debt-markets/bond-traders-ramp-up-bets-for-february-rate-cut-20241209-p5kx19