ANZ on the RBA - rate cuts ahead on August and November

Author: Eamonn Sheridan | Category: Central Banks

A snippet from ANZ on their outlook for the Reserve Bank of Australia. 

  • Further support for the economy is likely to be required in 2020
ANZ citing:
  • gathering global uncertainties
ANZ looking for something other than rate cuts from the RBA too ….
We think the Bank will likely reach for tools other than the cash rate
  • explicit forward guidance the possible first choice
  • there is considerable uncertainty about this, however, given the varying approaches that other countries have taken to the zero bound for interest rates
ANZ do see further rate cuts though:
  • 25bp cut in August (August 6)
  • 25 bp cut in November (November 5)

The background to this is of course the first rate cut from the RBA that took place on Tuesday (4 June)
  • and the poor GDP results for Australia, data released June 5,
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