VIEWS: Bank Desk Views On The RBA MonPol........>

RBA: VIEWS: Bank Desk Views On The RBA MonPol Decision:

- ANZ: We think it is pretty safe to assume that the Minutes from this meeting

will restate the oft-repeated assessment that "the next move in the cash rate

would more likely be an increase than a decrease."

- Barclays: We think the core issues of 1) low wage growth, 2) subdued CPI & 3)

falling house prices continue to drive a disinflationary backdrop despite

stronger growth. We believe that this 3-course weakness is likely to prevent

policy normalisation for some time, even if employment & growth remain

relatively strong. We exp. the rate hiking cycle to only begin in H120.

- TD: Providing stability by doing nothing is the Bank's stance just now, as

well as quietly welcoming AUD depreciation. We still tilt towards a more hawkish

tone being introduced in '19.

- Westpac: There were few changes to the Governor's last Statement. Commentary

around the labour mkt was a little more upbeat while the 3% fall in the AUD was

largely attributed to the USD strength. No reason to change our call that the

cash rate will remain on hold through '20.