War on hold, RBA on the move

Wednesday 6th May 2026

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Markets seem enthused by the fact that, today at least, things didn’t get worse in the Middle East. That said, they didn’t get any better either, and the world, meanwhile is chewing up its crude oil reserves. NAB’s Taylor Nugent joins Phil to talk through the market action and yesterday’s RBA meeting, which saw interest rates lifted, and the NAB view is that they’ll do it again at the next meeting. Taylor explains the thinking behind that, and looks ahead to New Zealand’s employment data today and the ADP jobs numbers for the US.

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