What do today's data mean for the Reserve Bank of Australia? Analysts respond:
JPMorgan
- Inflation is low enough to see the RBA provide further support to the economy
- "For us, this is definitely consistent with the idea that the cash rate needs to go lower"
BNP:
- An August rate cut is still a live possibility
NAB:
- A very close RBA meeting next week
- Think its close enough that the RBA will be on hold next week
