Preview of the Reserve Bank of Australia today's (June 5 2018) monetary policy board meeting
- The RBA will leave the cash rate on hold at 1.5%, for the 20th consecutive month
NAB have not much to say by way of preview. Fair enough I reckon. But, this:
Check out the scale on the horizontal axis … National Australia Bank expeictng the RBA on hold for a good while yet.
Via Westpac (just a snippet or two I pulled out):
Risks around household balance sheets cannot be under estimated. We understand that the Reserve Bank does not expect any negative wealth effects from falls in house prices.
- ... it is too soon to assume that a period of weakening house prices will not be associated with somewhat softer consumption than would normally be associated with the pace of income growth
And conclude:
- Westpac's core view is rock solid that the cash rate will remain on hold in 2018 and 2019. However, the balance of risks seems less skewed to the upside than is currently indicated by the official view that the next move in rates is going to be up.
