RBA Holds, Markets Whipsawed, and a Nation Fills Out Its Census

The Reserve Bank of Australia held the cash rate steady at 4.35% today, a pause that offered a momentary sigh of relief to mortgage holders. But Governor Michele Bullock immediately followed it with a verbal volley that whipsawed bond markets. "I think personally that it's quite possible we might need to go," Bullock told reporters, a comment that sent traders scrambling to price in a higher chance of another hike by year's end. The central...