- sees 0.25% cut each time
Chief economist Bill Evans on the wires. Westpac the first of the big four banks to call for rate cuts
I’m trying to get some further detail on the statement just issued
AUDUSD has posted new session lows of 0.8358 before bouncing to 0.8368. Bids noted at 0.8350 still
- says weak GDP and further sharp falls in commodity prices, continued weakness in consumer sentiment and prospect of further significant shock to confidence will be enough to prompt RBA to use some of its remaining policy source
- sees AUDUSD 0.8000 by June 2015
- fair value 0.79/0.8100
- lowers 2105 GDP forecast to 2.7% from 3.2%
- still expects rates to be on the rise in 2016 as the world economy gathers considerable momentum
I think that last statement is a bit hopeful
