CBA have moved their expected timing of the first Reserve Bank of Australia rate cut from November 2024 to December 2024expect a 25bp cutrecent strength in employment growth coupled with still relatively hawkish rhetoric from the RBA Governor means we now see December as the more likely month for the start of normalising the cash rateCBA reasoning:continue to forecast the Q3 24 trimmed mean CPI to print below the RBA’s expectationsDecember Board meeting will be held after the Q3 24 national accounts have been released , which means the Board will have full visibility on how the Australian economy performed over the September quarterWe expect the Stage 3 tax cuts to have only a minim
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