***NAB have changed their RBA rate call. They...>

RBA: ***NAB have changed their RBA rate call. They now only see 1 rate hike in

2018 (prev. 2), which they expect to come in November, although the bank does

concede that "much will still depend on the data flow - it is not impossible

that the RBA stays on hold for all of 2018 and raises rates in early 2019."

- The bank stated that "weak wages growth and slow progress reducing

unemployment means it is now less likely that the RBA will raise rates twice in

2018 (our previous forecast). By late 2018 growth should be near 3% and the

unemployment rate approaching 5%. That, together with increasing tightness in

employers' ability to find suitable labour, may finally see private sector wages

start to moderately edge up. Inflation by that time should also be approaching

the bottom of the 2-3% target range."