TD have moved their call for an RBA rate hike later

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

Citing:

• 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