Macquarie stock slips into Australia Day break as rate bets tighten

23 January 2026

Sydney, Jan 23, 2026, 17:47 AEDT — After-hours

Macquarie Group ASX:MQG ended Friday at A$210.41, slipping 0.22%.
Australia’s unemployment rate dropped to 4.1% in December, fueling speculation that the RBA might act sooner than expected.
Coming up: Australia’s December CPI report drops on Jan 28, followed by the RBA’s first policy meeting of 2026 in early February.

Macquarie Group shares slipped 0.22% to close at A$210.41 on Friday, giving back some of Thursday’s 2.44% gain. The stock drifted quietly as the weekend approached.

The steady finish is notable as rate expectations shift once more. Australia’s unemployment rate dropped to 4.1% in December, with employment increasing by roughly 65,000, the Australian Bureau of Statistics said Thursday.

Shocks like this usually ripple quickly through bank shares and funding markets. Abhijit Surya, senior APAC economist at Capital Economics, flagged a “growing imperative” for the Reserve Bank of Australia to tighten policy. Following the data, markets pushed the chance of a 25 basis-point (0.25 percentage point) hike to 54%, up from 27% beforehand. Reuters

Broader equities showed little movement. The ASX 200 ended at 8,860, gaining 11 points. Macquarie lagged slightly behind the market, despite traders citing changes in global risk sentiment.

Company-specific updates were sparse, yet filings didn’t stop. An ASX disclosure revealed Macquarie filed a notice confirming it no longer holds a substantial stake in Pantoro Gold (PNR) after Friday’s market close. (“Substantial holder” means owning 5% or more.) Australian Securities Exchange

The previous day, Macquarie filed a notice declaring itself a substantial holder in Sandfire Resources (SFR).

The market pauses for a day as the ASX closes Monday for Australia Day. Trading resumes Tuesday, with the inflation data due midweek.

The next major domestic event hits Wednesday when the ABS releases December 2025 consumer price index data at 11:30am AEDT on Jan 28. This figure could swiftly shift rate expectations if it deviates from forecasts.

But there’s a clear snag. Year-end jobs data often swings wildly, and a weaker inflation reading could ease pressure on the “early hike” bets that have been creeping back since Thursday.

Macquarie investors are zeroing in on two key dates: the Jan 28 CPI release and the RBA decision in early February. Any new market-sensitive filings could draw sharper focus amid the quieter post-holiday trading.

Shan Ahmed Khan Latest posts

Shan Ahmed Khan is a senior markets reporter at TS2.tech. His coverage ranges from stocks and technology to economic developments across global markets. He worked in investment research and market analysis before becoming a financial journalist and is a graduate of the Lahore University of Management Sciences (LUMS).

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