Rate Hike Havoc: Traders Bet on Three More RBA Moves as ASX Crumbles

The ASX plunged 0.5% to 8,687 points on Monday morning, extending a brutal month that's already wiped nearly 4% off the benchmark and erased every gain for 2026. Why? Traders are now pricing in three more RBA rate rises that would push the cash rate above 5 per cent for the first time since 2011. The central bank has already hiked three times this year to 4.35 per cent, with the next move to 4.6 per cent virtually locked in for next week's meeting. Rising oil...