I posted earlier on CBA's horrendous forecast for a GDP slump in Q3 due to the extended lockdown in Sydney:

ANZ now:

  • forecasting GDP -1.3% q/q in Q3
  • a solid rebound in Q4

Implications for the Reserve Bank of Australia:

  • to defer its QE taper until at least November

(In that link above, CNA expect the taper to be delayed until February next year).