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By Sophia Rodrigues
SYDNEY (MNI) - Economists at TD Securities have revised their forecast for
the first hike in the Reserve Bank of Australia's cash rate in this cycle,
pushing it to May 2019 from November this year.
"The sound of rate hike capitulation has been deafening, and we reluctantly
add to the noise. While we retain our 'glass half full' stance on the economy,
the data flow has been insufficient to move the needle for the RBA, and a rate
hike by year end is difficult to deliver," TD Securities head of Asia-Pacific
research Annette Beacher wrote in a note.
Beacher now expects two hike in 2019, in May and November, that will take
the cash rate to 2.0% from the current 1.5%.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: email@example.com