FXstreet.com (Barcelona) - According to RBS strategist Drew Brick, "with the direction of global growth currently still in the “balance”, as the RBA might say, the central bank may well refrain from rate cuts for now."

He adds: "We would note, however, that both underlying and headline inflation run below the RBA’s expectations right now � and we wouldn’t be surprised if both near term growth and inflation forecasts are revised lower after this week’s policy meeting, leaving the RBA with an easing bias all-in."