ASX Target Rate Tracker - March 2012What is the ASX Target Rate Tracker? The ASX Target Rate Tracker provides market participants and commentators with a market monitor for Official Cash Rate expectations in Australia. The Target Rate Tracker calculates a percentage probability of an RBA rate change based on the market determined prices in the ASX 30 Day Interbank Cash Rate Futures. The Target Rate Tracker is updated at the end of each business day. What is the Target Rate Tracker saying today? On the 7th of February 2012 the RBA left the official cash rate unchanged at 4.50%. The current Official Cash Rate as determined by the Reserve Bank of Australia (RBA) is 4.25%. The next RBA Board meeting and Official Cash Rate announcement will be on the 6th of March 2012. As at 10 February, the ASX 30 Day Interbank Cash Rate Futures March 2012 contract was trading at 95.885, indicating a 67% expectation of a rate decrease to 4.00% at the next RBA Board meeting. The table below highlights how market expectations of a rate decrease at the next RBA Board meeting has evolved in recent days.
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