NAB calling for two RBA rate cuts in 2019

Plenty of banks have jumped on the two rate cuts this year call since the poor data earlier in the week

Not all though.

Anyway, National Australia Bank calls for two cuts from the Reserve Bank of Australia this year

• July
• November

NAB head economist Alan Oster:

• We think the RBA will act this year on a 'no regrets' basis to boost economic activity and to offset a likely (on our forecasts) increase in unemployment in 2020

• We now think that the RBA will make two rate cuts in 2019. Growth appears to have lost significant momentum, placing at risk further improvement in the tabour market at a time when inflation poses little constraint on policy and financial stability risks have abated. We have pencilled in one 25bp cut to 1.25% in July and a further 25bp cut to 1% in November.