Implications for the rbaa Reserve Bank of Australia from today's daya (via WPAC)

  • To achieve the RBA's forecast of 2.5% growth for 2019 the second half of 2019 will need to register growth of 1.6% (more than 3.0% annualised). That now seems out of reach and makes the assumption of a "leap" to 2.75% in 2020 even more heroic.
  • In that regard, the partials around retail and residential building activity that we have seen for the start of the September quarter are also disappointing.
  • These results therefore further strengthen the case for a rate cut in the very near term.

Bolding is mine.

Westpac RBA forecast is for a cut at the next RBA meeting in October