National Australia Bank forecast an October and December rate cut from the Reserve Bank of Australia.
- NAb were previously Nov then Feb.
NAB citing familiar themes:
- impact of recent income tax cuts j muted
- gowing weakness in houlshold sector
- further fiscal support in near term unlikely
- lag in impact of monetary policy mean more urgency for cuts
- unless there is meaningful fiscal stimulus the RBA is likely to cut to 0.25% and adopt unconventional policy by mid-2020