FXStreet (Bali) - After Westpac raised home loan rates by 0.2% in order to meet new requirements on capital against mortgages, Macquarie is out with a note to clients noting that an RBA rate cut in Nov is a done deal.
According to Macquarie, "RBA faces now an explicit choice as to whether they wish to see an increase in rates to end borrowers", ,adding that "Westpac's hike "all but seals the deal for a November rate cut from the RBA." Following these latest developments, market pricing for a November cut has gone from just below 35% to now stand near 50%.
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