David Plank, analyst at ANZ, suggests that they now see the RBA cutting 25bp in August and November, taking the cash rate to 0.75% by year-end.
“Further support for the economy is likely to be required in 2020, given the gathering global uncertainties. We think the Bank will likely reach for tools other than the cash rate, with explicit forward guidance the possible first choice.”
“There is considerable uncertainty about this, however, given the varying approaches that other countries have taken to the zero bound for interest rates.”
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