Reserve Bank of Australia expected to cut its cash rate on Tuesday - why they might not ...Middle East

Reuters poll: 31 of 37 economists expect cut to RBA cash rate by 25bp

The statement from the Reserve Bank of Australia is due on July 8 at 2.30pm Sydney time:

0430 GMT1230 US Eastern time

Bank of America analysts argues that the RBA is likely to hold steady, pointing to underlying inflation pressures that remain uncomfortably high:

specifically, the trimmed mean inflation gauge—a key measure closely watched by the central bank—is projected to exceed the 2.5% midpoint target in the upcoming quarterly data due at the end of Julyat the same time, the unemployment rate is expected to remain below the RBA’s 4.2% estimate, highlighting ongoing labour market tightness.adding to the concern, the analyst noted that unit labour costs remain elevated, driven by persistently weak productivity growth. This dynamic poses upside risks to inflation, even as headline price pressures ease.

ps. I'm expecting a 25bp rate cut

This article was written by Eamonn Sheridan at www.forexlive.com.

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