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Analysts at Bank of America Merrill Lynch  believe  that a potential rebound for fourth-quarter growth rate, increased focus on the first quarter data and upcoming Federal Elections will likely allow the Reserve Bank of Australia (RBA) to remain patient on policy guidance.  

The central bank put rate cuts back on the table last month, moving away from the long-held tightening bias.  

Further, Westpac, one of the big four Australian banks, has predicted that the central bank will cut rates by 25 basis points in both August and November of 2019.  

Even so, the Aussie bond yield curve looks relatively steep to other markets, according to  Bank of America Merrill Lynch.