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VIEW: TD Securities writes that "rising.........>

RBA
RBA: VIEW: TD Securities writes that "rising chatter of the RBA delivering a
rate cut next year has smashed the OIS curve. Pre-GDP, a Nov 2019 hike was 40%
priced, then 30% priced, and now is marginally priced for a cut. The RBA is
unlikely to deliver for several reasons (1) the labour market is tightening; (2)
household debt is already at record levels (3); the froth has been taken out of
house prices due to macro-prudential tools; and (4) heightened prudential
supervision limits the banks' ability to entice new spending via a rate cut."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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