ANZ forecasts the RBA is on hold for the rest of this year and through 2017
ANZ cites;
- economy on firmer footing
- Global risks dissipating
- Domestic economy likely to continue to be a slow grind
- "While the strength in business conditions is encouraging, retail sales have softened, housing activity - while still solid - is unlikely to be a significant contributor to growth this year, and the outlook for non-mining investment remains disappointing. Further inroads into the unemployment rate are likely to be hard won"
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ANZ had previously been looking for two further cuts this year
