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RBA to cut the cash rate to 0.75% by November; AUD to USD0.66 by end 2019
Earlier this week Westpac moved forward its forecast for RBA cash rate cuts from the original forecast on February 21 of cuts in August and November to June and August. The June cut remains almost certain; a second in August is our expectation and the November cut should also proceed. Therefore, Westpac is now forecasting three cuts in 2019 in June; August and November to push the cash rate from 1.5% to 0.75% and to hold at that level through 2020. Our forecasts for employment; wages growth; economic growth ; inflation and conditions in the housing market are consistent with the need for policy to ease through the ... (full story)
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