Australia's June Jobs Data Lifts RBA August Rate Hike Bets to 33%, Year-End Odds Rise to 95%

According to Jin10, on July 23, Australia's June employment growth exceeded expectations, lifting market bets on a Reserve Bank of Australia rate hike in August to 33% from 25% at market open. Odds for rate hikes through the remainder of 2026 rose to 95% from 80%. IG market strategist Tony Sycamore noted the RBA would likely remain concerned about a tightening labor market amid elevated inflation.
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