Speculative investors increasingly price a RESERVE BANK OF AUSTRALIA hike in November as inflation remains above the bank’s 2%-3% target. Swap-market pricing now implies roughly a 45% chance of a 25bps RBA hike in November, up from about 38% before Tuesday’s rate decision. Turnover in ASX-traded interbank cash rate futures for November 2026 rose to its highest in over three months, signalling increased speculative activity. The moves suggest markets doubt the tightening cycle is over. Policymake

Speculative investors increasingly price a RESERVE BANK OF AUSTRALIA hike in November as inflation remains above the bank’s 2%-3% target. Swap-market pricing now implies roughly a 45% chance of a 25bps RBA hike in November, up from about 38% before Tuesday’s rate decision. Turnover in ASX-traded interbank cash rate futures for November 2026 rose to its highest in over three months, signalling increased speculative activity. The moves suggest markets doubt the tightening cycle is over. Policymakers held rates steady this week; traders will watch upcoming inflation and jobs data for clues on whether another hike will be required this year.