HALISTER1: RBA to Cut Benchmark Rate Again by 25 Bps in August: Westpac

RBA to Cut Benchmark Rate Again by 25 Bps in August: Westpac

(Bloomberg) -- RBA’s decision to cut rates today is significant enough for there to be a realistic expectation that a further cut is likely, Bill Evans, Westpac’s chief economist writes in note today.
  • June quarter inflation report won’t provide RBA with sufficient comfort, thus leading to another rate reduction; inflation has become the most important policy driver, says Evans
  • Statement of monetary policy due on May 6, to give insight on new inflation approach
  • NOTE: Australia cuts key rate to record low
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Bill Evans (Westpac Banking Corp)

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