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VIEW: Westpac: Hike Of 40 Basis Points In June Is Still The Best Policy

RBA
BulletMarketsFixed IncomeForeign Exchange

Westpac chief economist Bill Evans notes that “the minutes for the RBA Board meeting in May highlighted that the Board is taking a much broader approach to assessing wage pressures than just relying on the Wage Price Index. The slightly disappointing headline number from the WPI report is unlikely to sway the Board from its policy approach. We continue to argue that the best policy option for June is to go by 40 basis points early in this tightening cycle to avoid falling behind the curve.”

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Westpac chief economist Bill Evans notes that “the minutes for the RBA Board meeting in May highlighted that the Board is taking a much broader approach to assessing wage pressures than just relying on the Wage Price Index. The slightly disappointing headline number from the WPI report is unlikely to sway the Board from its policy approach. We continue to argue that the best policy option for June is to go by 40 basis points early in this tightening cycle to avoid falling behind the curve.”