Sydney, Jan 29, 2026, 17:36 AEDT — The market has closed.
- Australia’s inflation spike has refocused attention on the RBA’s Feb. 3 rate decision.
- Qube pushed back exclusivity, giving Macquarie Asset Management until Feb. 15 to complete due diligence.
- Macquarie has its next investor update set for a Feb. 10 operational briefing.
Shares of Macquarie Group Ltd slipped 0.33%, closing at A$212.14 on Thursday. The stock fluctuated between A$211.31 and A$214.24 during the session.
The modest shift comes at a tricky time for rate-sensitive financial stocks. Inflation has picked up once more, pushing the market to reconsider a near-term rate hike by the Reserve Bank of Australia.
Macquarie’s earnings are sensitive to shifts in funding costs, market swings, and deal flow — factors that usually intensify as investors revisit their interest rate forecasts.
Consumer prices jumped 3.8% in the year to December 2025, up from 3.4% in the 12 months to November, the Australian Bureau of Statistics reported. The “trimmed mean” inflation rate, which excludes the largest price swings, hit 3.3% annually. Electricity costs soared 21.5%, while inflation on services accelerated to 4.1%. Australian Bureau of Statistics
Westpac economists Justin Smirk and Neha Sharma reported that quarterly trimmed-mean inflation climbed 0.9%, signaling a likely rate hike from the RBA in February. They noted a stronger underlying trend, despite some mixed signals in the monthly data.
The RBA’s cash rate target stands at 3.60%, with the next decision expected at 2:30 p.m. AEDT on Feb. 3 following the board meeting on Feb. 2–3, according to the central bank’s website. This rate represents the overnight cost of unsecured bank loans, and shifts here tend to ripple swiftly through wider lending rates.
Australian shares barely moved as the S&P/ASX 200 index closed down 0.07%.
Macquarie went silent on ASX announcements Thursday, according to ASX data, leaving its shares to follow broader macro and sector trends heading into the close.
Macquarie filed a Form 605 late Wednesday, confirming it was no longer a substantial holder in Sandfire Resources. The notice, signed by the group’s assistant company secretary, is dated Jan. 28.
Qube Holdings announced it has extended exclusivity with Macquarie Asset Management until Feb. 15, allowing due diligence to proceed on a non-binding indicative offer. The proposed price remains steady at A$5.20 per share.
Macquarie plans an operational briefing on Feb. 10 and has set its full-year results release for May 8.
Yet, the immediate risk remains tied to the near-term rate trade. If inflation data softens or the RBA signals a pause, the tightening momentum could reverse sharply. On the other hand, any faltering in the Qube deal process would likely relegate M&A talk to mere speculation.
Next on the calendar: the RBA decision statement arrives Feb. 3, followed by Macquarie’s operational briefing on Feb. 10. Then comes the exclusivity deadline for Qube’s talks with Macquarie Asset Management on Feb. 15.
