ASX to rally as traders write off chances of December rate rise

"Even though other Fed officials who spoke this week ... including [chairman Jerome] Powell, sounded more neutral, they didn't push especially hard to correct markets' interpretation of what Waller said," Mr Keller said. No smoking gun Interest rate sentiment in Australia also points to RBA inaction. Money markets are pricing in a near-zero chance of a rate increase at the final policy meeting of the year on Tuesday, compared with about a 10 per cent chance at the start of November. The cash rate is 4.35 per cent, and the central bank has raised rates five times this year. The…