NAB are calling a Reserve Bank of Australia rate hike in mid 2019
Previously they'd been calling a hike from the central bank in November 2018
NAB says it'll be the first in a gradual rate hiking cycle
NAB cites:
- no sign yet of stronger wages growth ... considerable uncertainty around the timing at which wages growth will strengthen
- unemployment stuck around 5.5% for the best part of a year
- timing of RBA hike still very data dependent
NAB expect the economy to strengthen, leading to a declining unemployment rate
- should eventually translate into stronger wages growth
- give the RBA confidence that inflation will track back to its 2.5% target
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