A couple of other rate cuts calls from Australia - RBA seen at 0.5% by two banks

I posted earlier on National Australia Bank expecting the Reserve Bank of Australia to cut to 0.75% this year:

• AUD traders note - NAB forecasts RBA to cut cash rate to 0.75% in November

Adding a couple more fresh calls today:

• RBC forecast the RBA to 0.5%, by May of 2020 (cuts in August 2019, Feb and May 2020)
• Macquarie also have a 0.5% cash rate expected in 2020

RBC citing:

• Australian underemployment rate elevated, just 0.5% under below its historical high
• Labour market slack is ample
• A sustained period of above-trend growth and above-average employment generation is needed
• Global developments also key, with the risk of a shift easier in the policy stance of global central banks, especially G7