National Australia Bank postpones its call for an RBA rate hike

Author: Eamonn Sheridan | Category: Central Banks

NAB are calling a Reserve Bank of Australia rate hike in mid 2019

Previously they'd been calling a hike from the central bank in November 2018

NAB says it'll be the first in a gradual rate hiking cycle
NAB cites:
  • no sign yet of stronger wages growth ... considerable uncertainty around the timing at which wages growth will strengthen
  • unemployment stuck around 5.5% for the best part of a year
  • timing of RBA hike still very data dependent
NAB expect the economy to strengthen, leading to a declining unemployment rate
  • should eventually translate into stronger wages growth
  • give the RBA confidence that inflation will track back to its 2.5% target

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