Bank desk views ahead of today's RBA MonPol.....>

RBA: Bank desk views ahead of today's RBA MonPol decision:

- ANZ: We exp. little change in the statement, although the wording around

mortgage rates may be updated to reflect the moves by three of the major banks.

- ING: The debate will centre around how officials balance solid domestic

activity & ongoing external risks. Since the last meeting, we've seen Q2

Australian GDP surprise to the upside - while employment growth bounced back

after a summer lull. But the escalation in the US-China trade war & ongoing

global trade uncertainties remains a headwind.

- RBC: We exp. a generally upbeat tone to be maintained vs. the background of a

very gradually improving labour mkt & wage picture.

- Westpac: Economic growth over the past year was above trend, at 3.4%;

inflation is in the target band, at 2.1%; and unemployment has declined to a six

year low, 5.3%. However, uncertainties and challenges remain, notably around the

consumer, weak wages growth, high household debt levels and housing, as prices

ease following strong gains and as lending conditions tighten. We expect the RBA

cash rate to remain unchanged at 1.50% throughout 2018, 2019, and during 2020.