2 Jul 2013
Flash: Little expectation of an RBA rate cut - NAB
FXstreet.com (Barcelona) - The Reserve Bank of Australia is scheduled to release its latest monetary policy statement at 4.30 GMT, amid little expectation of a rate cut but all interest in the tone of the rhetoric used, says NAB on its morning report.
According to NAB: "While the RBA retains its easing bias, it is unlikely to cut again unless we see a further deterioration in the outlook, or there are clear signs that the May rate cut has failed to provide any boost to confidence or activity."
The Australian-based bank still counts on another rate cut, "but we expect it will happen later in the year" NAB said. The market pricing of a cut today is just 20%, the bank added.
According to NAB: "While the RBA retains its easing bias, it is unlikely to cut again unless we see a further deterioration in the outlook, or there are clear signs that the May rate cut has failed to provide any boost to confidence or activity."
The Australian-based bank still counts on another rate cut, "but we expect it will happen later in the year" NAB said. The market pricing of a cut today is just 20%, the bank added.