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What To Expect From RBA? - Views From 15 Major Banks
The following are the expectations for tonight's RBA May policy meeting as provided by the economists at 15 major banks along with some thoughts on the AUD into the event as provided by the FX strategists at these banks. Goldman Sachs: We expect a 25bp cut to 2.00%, in line with consensus. We see a solid case for a -25bp rate cut given a likely downgrade to the RBA’s own growth forecasts later in the week, confirmation of still benign inflationary pressures in last week’s 1Q2015 CPI report, relatively low commodity prices, and a still elevated AUD. That said, we acknowledge that a speech by the RBA Governor last ... (full story)