VIEW: ANZ write that "the RBA downgraded its....>

RBA: VIEW: ANZ write that "the RBA downgraded its assessment of the economic

outlook in the post February Board meeting statement and highlighted additional

downside risks. The comments in the statement around the international outlook,

the Australian GDP outlook, the labour market and inflation were all less

positive than the December statement. Interestingly, the comments on housing

were largely unchanged. Despite the downgrade and increased risks, the Bank is

still broadly positive about the outlook, with GDP growth expected to be an

above-trend 3% this year. Our reading of the statement is that the Bank remains

of the view that the next move in interest rates is most likely up, but not for

some time. We expect the RBA Governor to say words to this effect when he speaks

on the "The Year Ahead" on Wednesday."