Westpac had been expecting a +25bp rate hike, now a hold decision.
- still expect a +25bp hike at the May meeting
- lowers peak RBA cash rate hike to 3.85% (from 4.1%)
WPAC, in sunnary:
- Following the weaker-than-expected data flow since the February Board meeting and adverse developments in global markets we expect the RBA Board to pause at the April meeting.
Where the RBA is at heading into the April meeting: