VIEW: WSJ's RBA watcher, James Glynn, wrote.....>

RBA: VIEW: WSJ's RBA watcher, James Glynn, wrote the following on Thursday "Gov.

Lowe will highlight rising unemployment & stalled wage growth when he speaks in

Brisbane next week, setting the scene for an interest-rate cut as early as June.

His economic-outlook address will fix its gaze on the need for the RBA to see

unemployment falling - something its current set of forecasts doesn't anticipate

before the end of 2020, despite being modelled on the presumption of two cuts.

For those who didn't grasp the easing bias when it was first rolled out at the

board meeting on May 7, the message of coming interest-rate cuts... will be made

crystal clear Casting further out, two cuts in the official cash rate this year

- followed by a pause to ponder more - remain entirely possible. Cuts could well

stretch to a full percentage point before the central bank feels confident again

that unemployment is headed lower, the labor market is tightening, wages are

growing and inflation is at least pointing toward 2%-3% rather than moving away.

Minutes of the May 7 policy meeting to be published Tuesday are likely to

plainly state that the outlook is no longer "evenly balanced." Expect words

suggesting a growing need to give the economy a sugar hit."