The Barclays Research Team is out with its expectations from the upcoming Reserve Bank of Australia (RBA) Official Cash Rate (OCR) decision due to be announced on Tuesday at 0330 GMT.
Key Quotes:
“RBA decision (Tuesday) and Statement on Monetary Policy (Friday) are unlikely to support market pricing of 15bp of cuts over the next year.
Policymakers are unlikely to signal any major shift in policy stance but instead will likely sound cautious and data dependent.
We expect the RBA to downgrade its growth and inflation forecasts for 2019, on account of the weaker external backdrop and lower commodity prices.”
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