AUD – RBA meet next week (April 3) – preview

This (in brief, summary) via Westpac on the Reserve Bank of Australia monetary policy meeting due next week

WPAC provide a TL;DR version:

  • There is almost certain to be no rate move coming from that meeting.

Yep – nailed it

Westpac go on, with some developments in consensus opinion:

  • The latest Bloomberg Survey sees considerable changes in the economists’ views.
  • A range of recent developments is easing concerns about the need for the RBA to raise rates

WPAC cite:

  • considerable “slack” is expected to remain in the Australian economy over 2018…. jobs growth is slowing …. 
  • Most housing markets have peaked
  • Financial Conditions are Tightening
  • Global Growth may have Plateaued

So, not only on hold in April, but way out into the future also.

ps. On Westpac saying :

  • A range of recent developments is easing concerns about the need for the RBA to raise rates

Note that just today HSBC have pushed back their expectation for an RBA rate hike:

  • To Q4 of 2018, from previously forecasting a hike in Q3 2018

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