We expect the RBA to remain on hold, stopping short of cutting the official cash rate on Tuesday, and instead moving to further evolve policy guidance by adopting a formal easing bias. This will open the door for rate cuts in the second half of this year once the easing bias is explicit. After a slew of weaker than expected data has confirmed the significant loss in momentum throughout the second half of 2018 has also permeated the first quarter of 2019, will disinflation be the trigger for a rate cut? Consumer prices were flat on the quarter as the “lucky country” has not managed to escape the pervasive ... (full story)