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According to Bill Evans, Chief Economist at Westpac, the Reserve Bank Board of Australia will keep the cash rate on hold and maintain its upbeat growth and inflation forecasts despite rising risks.

Key Quotes

“The Reserve Bank Board meets next week on November 6.”

“The Bank will also release the November Statement on Monetary Policy on November 9.”

“Of course the Governor will announce that there has been no change in the cash rate.”

“Today, markets are pricing only the probability of around 50% of one hike by end 2019 and a full 25bps is not priced-in until end 2020.”