RBA interest rate decision due today - here's a bank not expecting a rate cut

Author: Eamonn Sheridan | Category: Central Banks

Preview of the Reserve Bank of Australia July 2019 monetary policy decision due Tuesday at 0430GMT.  

Most analysts surveyed expect a rate cut from the Bank, but not all. Morere here:
Bank of America / Merrill Lynch are in the rate cut camp: 
  • RBA likely to deliver second cut today - BAML
  • Société Générale are not. In brief preview:
  • While most market participants and around half of the market economists expect a back-to-back rate cut, our base scenario continues to be a rate cut in August with a regular review of macroeconomic forecasts. The minutes of the June policy meeting strongly suggested further easing. 
  • However, Governor Lowe's recent mixed comments show that the RBA is hesitant about taking aggressive easing actions, in our view.

Preview of the Reserve Bank of Australia July 2019 monetary policy decision due Tuesday at 0430GMT.  


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