Analysts a Westpac noted that Much has happened since the RBA Board’s last meeting 2 months ago, including Australia’s poor Q3 GDP data, 2 firm jobs report, devastating bushfires and the Wuhan coronavirus.
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Westpac expects a steady cash rate at 0.75% after today’s meeting (2:30pm Syd/11:30am Sing/HK), having changed our view after the drop in unemployment in Dec.
This is also economists’ consensus view, though market pricing for a cut has ticked back up from about 10% after Q4 CPI data last week to 20% chance in response to market turmoil on the novel coronavirus.
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