VIEW: RBC expect "the RBA to leave the cash.....>

RBA: VIEW: RBC expect "the RBA to leave the cash rate unchanged at 1% following

50bp of easing in June and July. Domestic data over the last month have been

mixed: labour market indicators have been firmer, confidence a little higher,

and house prices marginally stronger. Global developments, however, have

disappointed, including a step-up in US/CH trade protection, deterioration in

JP/South Korean trade relations, and modestly increased risk of a hard Brexit

with the next session of the UK Parliament shortened. While the RBA is likely to

sound hopeful around early signs that house prices may be stabilising, continued

decent employment generation, and the positive impact from fiscal and monetary

stimulus, we also expect a clear easing bias coupled with particular caution

around the global outlook and risks and the behaviour of AU households. Further

rates cuts are still likely but not this month."