*** /VIEW: NAB have delayed the timing of.......>

RBA: *** /VIEW: NAB have delayed the timing of when they expect the RBA to start

a gradual rate hiking cycle, and now look for the first move to be "in mid (May)

2019, with the next move after that not until late in the year (November 2019)."

- "The change reflects the fact there is no sign yet of stronger wages growth

and unemployment has been stuck around 5.5% for the best part of a year. While

still very data dependent we now have the start of the rate hiking cycle in

mid-2019. We still expect the economy to strengthen, leading to a declining

unemployment rate. This should eventually translate into stronger wages growth

and give the RBA confidence that inflation will track back to its 2.5% target.

However, we acknowledge there is considerable uncertainty around the timing at

which wages growth will strengthen, and the time of the RBA's next move will

remain highly data dependent."