In an article from The Australian overnight local banks are quoted as saying Australian firms are ‘eager’ to borrow and invest.
- NAB says its clients were “signalling” a desire to borrow and invest when confidence further strengthens
Macquarie upped earnings forecasts for the banks on a survey that showed most businesses were not expecting a significant rise in stress over the next six months and borrowing intentions had risen to the highest level since 2008
The RBA’s easing cycle, aimed at boosting non-resource-related investment may be paying off; indeed the easing cycle may well have ended and the next rate move is up. It certainly seems form all indications that rates are on hold for the time being.
The next RBA policy board meeting is Tuesday, April 2.
