TD Securities analysts point out that the RBA Statement on Monetary Policy (SoMP) contained a few mixed messages. Key Quotes “The RBA claimed that growth would be 2 ¾% (unchanged for 2020, that is).” “The RBA stepped up its forecast assumption transparency by not just claiming “market pricing” for its rates assumption, but explicitly said “two rate cuts”. For the February SoMP it was implicit that the assumption was one rate cut, but was not made explicit.” “The RBA has had to downgrade its growth and inflation forecasts over (at least) the last four SoMPs. On this revelation alone we still question why a rate cut wasn’t simply delivered this week.” “So we are left to reiterate our new base case, which is the Bank delivers 25bp cuts in both August and November to 1%. The RBA will still be monitoring monthly updates of the unemployment rate (RBA flat at 5% through to mid-2021) but at this stage setting up for a cut in August. However, should the labour market rapidly deteriorate, the first cut could be brought forward to July.” 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 Market movers in the week ahead – Danske Bank FX Street 3 years TD Securities analysts point out that the RBA Statement on Monetary Policy (SoMP) contained a few mixed messages. Key Quotes "The RBA claimed that growth would be 2 ¾% (unchanged for 2020, that is)." "The RBA stepped up its forecast assumption transparency by not just claiming "market pricing" for its rates assumption, but explicitly said "two rate cuts". For the February SoMP it was implicit that the assumption was one rate cut, but was not made explicit." "The RBA has had to downgrade its growth and inflation forecasts over (at least) the last four SoMPs. On this revelation alone we… Top 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.
