According to the latest Reuters poll, the Reserve Bank of Australia (RBA) is seen standing pat on its Official Cash Rate (OCR) when it meets next Tuesday.
Key Findings:
“A majority of the 36 economists surveyed expect the Reserve Bank of Australia (RBA) to keep its benchmark rate at 0.75% at its Nov. 5 policy review.
As many as 25 of 36, or nearly 70%, forecast rates at 0.5% by early 2020 with four predicting deeper cuts to 0.25%.
A median of 24 respondents expects the cash rate will remain at 0.5% through end-2021.
Economists’ predictions align with market pricing which shows little chance of a move in November. Futures are predicting a 60% chance of a cut to 0.50% in March.
Ahead of the RBA’s decision, retail sales on Monday is likely to show a decent monthly rise of 0.5% following a below-forecast 0.4% gain the previous month.”
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