Westpac had been calling for an Reserve Bank of Australia rate cut again in November

Have brought forward that call to October

  • Then added another for February 2020


  • By October, we expect that the path of the unemployment rate will be sufficiently contrary to the RBA's plans that they will have appropriate justification to ease policy a little earlier than we had previously expected.
  • We recognise that September is also likely to be a "live" meeting but expect the Board will wait for more data, such as the June quarter national accounts, before moving again.

AUD still losing a few points ….