Wheeler succeeds in rolling back market rate hike bets by 3 months with dovish statement

Wed, 17 May 2017

By Jonathan Underhill May 17 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has prompted financial market traders to push back their bets for an interest rate hike by about three months with last week's dovish monetary policy statement but there is scepticism among economists about the bank's benign inflation track. Ahead of the MPS last Thursday the market had almost fully priced in a 25 basis point increase in the official cash rate to 2 percent by the March 22, 2018 OCR review and a second hike was fully priced in by the Aug. 9...

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