More firms are hopping on the June bandwagon
Westpac had previously penciled in two rate cuts this year, being in August and November. But after RBA governor Philip Lowe's speech earlier, they now see the RBA cutting rates in June and August instead. The firm then sees the RBA staying pat through 2020.
More on their reasoning for the move here.
With Westpac's latest forecast change, they join CBA and RBC as the latest to bring forward their rate cut calls to June and all three firms are also expecting a secondary rate cut by the RBA in August as well.
