Crypto News: RBA set to lift rates

Morning all, it's Jackie here in Sydney. It's RBA decision day, and we're taking a look at the diverging policy roadmaps forAustralia and New Zealand. But first...

Today's must-reads:
• Macquarie-backed Aligned is said to eye Odata deal
• Crypto exchange layoffs
• Private debt managers tap super funds

These hikes aren't alike. While the RBA is set to raise interest rates today as it nears the end of its tightening cycle, New Zealand is poised to move higher after a record increase. We examine, in charts, what separates the two country's outlooks, highlighting some factors affecting the stances at other central banks too.

Data center deal. Aligned, a data center operator backed by a unit of Macquarie, is in talks to acquire Latin America-focused rival Odata, people with knowledge of the matter say. The parties are in advanced discussions regarding a transaction that values Odata at about $1.8 billion including debt, the people say.

Bountiful. We're headed for another record wheat crop this season even as heavy rains hurt yields in the eastern states. Farmers are set to gather 36.6 million tons in 2022-23, up 1% from the previous all-time high last season, government forecaster Abares says.

More FTX fallout. Australian crypto exchange Swyftx laid off 35% of employees as the crisis sparked by FTX's implosion further dims the sector's outlook. Meanwhile, the venture capital and pension funds that seeded FTX aren't blameless victims in its collapse, Bloomberg Opinion's Robert Burgess and Chris Hughes write.

After winning over some of the biggest retirement plans in the US, private credit managers have found new ground for their investment pitch: super funds. Several of the nation's top players are boosting private credit allocations amid strong growth potential— such assets are estimated to make up less than 1% of super funds' combined investments.

Australian stocks are set to decline as Wall Street shares dropped after an unexpected surge in a US services gauge fueled Fed hike speculation. Equities also came under pressure on the view that a recent rally could be overdone given economic risks.

Credit Suisse shares gained on the prospect that Saudi Arabian Crown Prince Mohammed bin Salman will take a stake in the Swiss firm's planned investment bank spin out. Bin Salman may put about $500 million into the vehicle, people with knowledge of the matter say.

Moscow confirmed attacks against two airfields well inside its borders, accusing Ukraine of what could be the deepest strikes into Russian territory since the start of the war. Ukraine didn't claim responsibility for the attacks, which Russia said killed three people.

Digging in. South Africa's embattled president Cyril Ramaphosa got a lift after ANC leadership said it'll instruct lawmakers to reject an independent panel's report that he may have violated the constitution over his handling of the theft of at least $580,000 from his game farm.

• RBA policy decision
• Australia 3Q net exports, current account

Football fans who went to Qatar knew the World Cup experience wouldn't come cheap, but the resilience of the nation's currency is making the trip particularly painful for travelers from South Korea, Japan and England. Everything from hotel bills to the price of Coca-Cola at the stadium are pinching tourists, who in many instances are already dealing with sky-high inflation in their home countries.