Daily Flows

• As the end of year approaches, many ADI’s are on the look out for funds to provide a buffer over the holiday period. Now is a good time to pick up some higher TD rates whilst the demand is strong
• We have seen a lot of traction around the 6-12 month mark with rates ranging from 5.10%-5.18%
• As reference rates continue to drop after a dovish tone to the RBA announcement, locking in anything long term with a 5 handle in front is a good long term investment

Unpacking the Final RBA Meeting

• Despite little chance of a move in the cash rate priced in ahead of the RBA’s meeting, there was plenty of focus on what they had to say
• For those watching closely there was plenty of gems in the post meeting statement with the RBA shifting gears as upside risks abate
• The key line from their statement was “ the Board is gaining some confidence that inflation is moving sustainably towards target.”
• In the press conference the Governor was pressed on the potential for a rate cut and when it might be delivered
• However she remains resolute that the job is not quite done on inflation and it would still take some time, leaving any rate cut decision data dependant.