VIEW: Westpac Reaffirm Call For RBA Pause Next Week

Westpac chief Eeconomist Bill Evans writes “we confirm the forecast we released on March 17 that the Board will decide to pause at the April meeting.

• “That move is unlikely to see the end of the tightening cycle since we expect a final 25 basis point increase at the May Board meeting.”
• “The Minutes from the March Board meeting included the unusual: “Members agreed to reconsider the case for a pause at the following meeting, recognising that pausing would allow additional time to assess the outlook for the economy.””
• “Signalling aspects of the decision process at the upcoming meeting is something I have not seen in previous Board Minutes. This approach indicates that there is arguably a preference for pausing.”