The Reserve Bank of Australia meet next Tuesday, April 2 (statement due at 0330GMT)
RBC with very quick, but to the point comments....
But first, a recap of RBNZ developments in case you have missed them:
Rate cut expectations rise:
- ANZ in New Zealand tips an RBNZ rate cut in November 2019 but say the risk is earlier
- Responses to the RBNZ policy guidance shift to dovish
- Responses to the RBNZ continue
- Responses to the RBNZ continue - another bank looking for a 2019 rate cut
OK, back to RBC (comments come via Reuters):
- continued dovish shift by G7 central banks
- ongoing support by the Chinese authoritie
- today's move by the RBNZ
will keep pressure on the RBA to also move in the same direction, however reluctantly
- It is, essentially, a global policy cycle
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Worth noting that the RBA has, in fact, recently shifted its bias from neutral to easing. The RBNZ have caught up with the RBA today … not the other way around …
