TD have moved their call for an RBA rate hike later

Author: Eamonn Sheridan | Category: Central Banks

Hardly surprising given the shift this week. TD now think the Reserve Bank of Australia will hike later, in May 2020

  • TD were previously at November 2019
  • RBA Statement on Monetary Policy provided justification for the Governor's unexpectedly downbeat speech on Wednesday
  • Growth wasn't just shaved down to 3%, it was slashed across the board
  • Trade-war-related downside risks have escalated
  • the impact of the house price decline on the broader economy has morphed from "manageable" to being a downside risk to growth this year and next
  • The forthcoming election in May, and the potential impact on activity before and after this period, has not explicitly been incorporated into the Bank's outlook
  • the RBA has switched from glass-half-full to listing a litany of global and domestic downside risks to the economy

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