An article in the Australian press this morning says what has been doing the rounds for a few weeks now, that the easing cycle from the RBA is finished and the next rate move (maybe as early as late 2013) will be up.
- HSBC chief economist Paul Bloxham: “The RBA’s easing phase is done and they may need to edge rates up,”
- Tips Q4 2013 as the likely time for a rate rise
Australian Financial Review (gated)
The RBA meets tomorrow – expect no change in rates (announcement at 2.30pm local time, 0430GMT).
AUD is around 1.0410 in a quiet, holiday market. There may be some impact from the China Manufacturing PMI due at 0200GMT (and HSBC China manufacturing PMI due 45 minutes later at 0245GMT) – AUD was sold off with the weakening Chinese equity markets last week.
