Its not quite unanimous - the Bloomberg survey has a couple of hold outs expecting the RBA to remain on hold.
And market pricing is only at a 95% chance of a cut :-D
OK, moving on, ANZ quickie on what to watch, bolding mine:
- The RBA is expected to ease policy rates on Tuesday. With at least one more cut priced in after June, the tone of the statement will be important. We see some risk that the statement is not dovish enough for the market. When the RBA eases policy, its statement focusses on current action rather than forward guidance
I think it would pay to take heed of ANZ on this. We've seen plenty of calls for 3 or 4 cuts to come. Unless RBA Governor Lowe prostrates himself on the Board Room floor and begs for mercy then he probably won't be seen as being dovish enough.
