NAB drops RBA 2019 rate hike forecast

As Australian economic data continues to slip further into contraction, and the forever-ongoing US-China tradewar threatening to further impact Australia's economy through second-hand attrition, the majority of major investment banks are pushing their forecasts for rate movement from the Reserve Bank of Australia (RBA) even further out than they were before.

National Australia Bank (NAB) is the latest major bank to push out their RBA rate calls, and NAB is now expecting a rate hike to come from the RBA sometime in the second half of 2020; the bank initially was expecting two rate hikes spread throughout 2019, but lagging economic data sees the Australian central bank likely to remain in their current slump on rates, with over two years under their belts with rates where they currently are.