The only way is up

Tuesday 9th December 2025

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The RBA meets today — no big moves expected, but markets are watching closely for hints about when rates might rise. Over in Europe, bond yields climbed after an ECB policymaker signalled that the era of easing is over and the next direction is up. Meanwhile in the U.S., policy rates are still falling — though the debate is how far they’ll go. Even Kevin Hassett, tipped as Trump’s likely pick for the Fed, is cautioning against too many cuts next year. And don’t forget today’s NAB business survey: it could reveal fresh insights on capacity utilization, the very metric that rattled the RBA last time.

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