Westpac have updated thier forecasts from the Reserve Bank of Australia. In summary:
- We have lifted our forecast for the RBA's terminal rate from 2.35% to 2.6%.
- That entails a 50 basis point lift in the cash rate at the August meeting (revised up from 25 basis points) prior to a pause in September.
- The last hike is expected be 25 basis points in February.
AUD/USD has languished on the session here: