HSBC says the RBA is done cutting rates ... but AUD a key challenge to their view

HSBC's Paul Bloxham, Chief Economist for Australia and New Zealand

• Growth is strong, commodity prices have risen, and the drag from the mining investment decline is set to fade
• Although underlying inflation remains below target, we think it is close to its trough
• We expect that the RBA will not need to cut further, although the risk of a rising AUD is the key challenge to this view

h/t @Yogi_Chan (One of the voices on the squawk box @Livesquawk)