ANZ not joining in on the RBA rate cut calls – say the bank is on hold for 2019 & 2020

ANZ on their Reserve Bank of Australia outlook

  • expect the RBA to be on hold in 2019 and 2020
  • GDP has been a poor guide to RBA action

(ANZ referring here to the weakening of GDP in H2 2018)

  • The unemployment rate is more important
  • ANZ’s own Labour Market Indicator points to stability rather than an increase in u/e

ANZ adds that they expect the April Budget will add considerable stimulus


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