Australian Inflation Boosts Case for Higher-for-Longer Rates [BNN Bloomberg (Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: BNN Bloomberg
and bolstering the case for the Reserve Bank to hold interest rates at a 12-year high. The consumer price index advanced 3.6% from a year earlier, coming in above economists' estimate of 3.5%, government data showed Wednesday. A closely watched core inflation gauge — the trimmed mean — rose 4%, also exceeding forecasts and well above the RBA's 2-3% target. Money markets wound back pricing for RBA easing this year, with the yield on policy sensitive three-year government bonds up 14 basis points to 3.99%. Swaps traders are now pricing a one-in-four chance of a rate cut in December from about a two-in-three chance prior to the report. The Aussie dollar climbed 0.5% to 65.23 US cents after the release. Wednesday's data comes on the heels of employment figures that showed the labor market remains tight. Both will feed into the RBA staff's updated forecasts that will be released simultaneously with the board's policy decision on May 7. Su-Lin Ong, chief economist at Royal Bank of
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Earnings
- 2/28/24 - Beat
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Sec Filings
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- RY's page on the SEC website