RBA sinks $A as traders caught off-guard

"So on the day, the RBA was inevitably a significant factor behind the Aussie dollar's slippage." The RBA decision on Tuesday prompted bond traders to trim bets of further monetary tightening. However, markets still imply an 80 per cent chance that the central bank will lift the cash rate one more time this cycle, with November being the most likely date after the next inflation report. A growing number of economists have also declared that the RBA is done with its aggressive rate cycle, after adding 4 percentage points since May last year. Others shaved back their expectations for a…