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Only Charts

ONLY CHARTS #435

RBA cash rate pricing, NZ filled jobs, Aus housing prices

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Antipodean Macro
Oct 28, 2025
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1. RBA Governor Bullock played down the chances of a rate cut by the RBA Board next week and market pricing moved swiftly.

Markets are now pricing in around a 40% chance of a 25bp rate cut next week, down from ~60% prior to the Governor’s speech. A full 25bp cut is still priced in by February.

2. Preliminary estimates suggest that the number of filled jobs in New Zealand rose +0.3% m/m in September, though the recent history was again revised lower.

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