Trial now
RBA
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.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com