Comments from Bill Evans, Chief Economist at the bank - these from his assessment of the consumer confidence data earlier

The Reserve Bank Board next meets on August 1. Rates will remain on hold.

We continue to predict that the Reserve Bank cash rate will remain on hold throughout the remainder of 2017.

  • A cautious consumer;
  • a slowing housing market;
  • and a weakening in the labour market
  • with limited prospects of any boost to wages growth

all point to another year of steady policy