ANZ analysts suggest that the Reserve Bank of Australia is likely to cut the cash rate further in coming months, but they no longer expect a move at the Board’s August meeting next week. Key Quotes “The June quarter CPI, which was in line with the Bank’s forecasts, provides some flexibility, as it wasn’t the smoking gun that some expected.” “Governor Lowe suggested last week that the RBA is prepared to watch the data for a period to determine whether “we’re going to need further stimulus”.” “Market pricing pared expectations of an August rate cut.” “We expect the RBA’s forecasts, which will be updated in the Statement on Monetary Policy on Friday, to explicitly acknowledge the high likelihood that further rate cuts will be needed to get unemployment down.” “That could result in a communication problem for the RBA, as it did at the Board’s May meeting. The forecasts will show that monetary policy likely needs to be eased further to get to where the RBA wants to be, but the Governor will want to wait for further data.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD digest Boris Johnson’s by-election defeat – and it may be positive Yohay Elam 4 years ANZ analysts suggest that the Reserve Bank of Australia is likely to cut the cash rate further in coming months, but they no longer expect a move at the Board's August meeting next week. Key Quotes "The June quarter CPI, which was in line with the Bank's forecasts, provides some flexibility, as it wasn't the smoking gun that some expected." "Governor Lowe suggested last week that the RBA is prepared to watch the data for a period to determine whether "we're going to need further stimulus"." "Market pricing pared expectations of an August rate cut." "We expect the RBA's forecasts,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
