Westpac's call for two more RBA rate cuts then QE - and where to for the AUD

Author: Eamonn Sheridan | Category: Central Banks

Westpac's new call on what they expect from the rbaa Reserve Bank of Australia is here: 

  • Westpac's forecast for the AUD, since July 24, have been a narrow range of USD0.66 in the first half of 2020 followed by USD 0.67 in the second half of 2020. 
  • We remain comfortable with that view given the delayed introduction of QE being offset by the lower cash terminal rate. 
  • And note that these forecasts are in a world where the Federal Reserve does three rate cuts in 2020 and "risk off" remains the dominant theme.

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