I'll keep this brief, I'm referring to Reserve Bank of Australia rate cut forecasts from:
- Westpac
- Citi
- Morgan Stanley
- TD
All are tipping a rate cut from the RBA in August followed by another in November. There are probably others but that'll do for now.
Obviously the background is weaker readings on the economy, inflation and (soon to be expected) employment. But why specifically August and November you ask?
Those months will both have the Bank's Statement on Monetary Policy, which allows the RBA to go deeper into their thinking than is published in the monthly statements accompanying the monthly meeting. Says the RBA:
- The Statement on Monetary Policy sets out the Bank's assessment of current economic conditions, both domestic and international, along with the outlook for Australian inflation and output growth.
SoMP's are issued in:
- February
- May
- (you guessed it) August
- (ditto) November
