In response to today's capex dats in Australia, Goldman Sachs are looking for further Reserve Bank of Australia rate cuts
- Australia Q1 Capex: -4.4% (vs. expected -2.2%)
- Australia - responses to Capex data: earth shattering, crapex, very sobering
Says GS:
- "Given the scale of the declines in this survey we reiterate our warnings that economic growth estimates remain skewed to the downside and the monetary easing cycle is unlikely to be complete
- We continue to expect the RBA to ease interest rates again in 2015, most likely at the August meeting."
