Back
19 Mar 2013
Forex Flash: RBA's Lowe speech hints RBA content to sit and wait - NAB
FXstreet.com (Barcelona) - Following RBA's Deputy Governor Mr. Lowe speech earlier today, NAB notes "the RBA is content to sit and wait for now as mining/ non-mining story unfolds..."
NAB adds: "His comments again emphasized that while the RBA was monitoring the situation closely, several of the building blocks were falling into place as far as how you'd expect easing to flow through the economy. Steady rates for now is how we expect policy to play out in the near term with rates forecast by NAB to remain steady for the next two meetings."
NAB's still expects cuts by the tune of 50 bps, "with the next most likely cut slated for the June meeting" the bank says.
NAB adds: "His comments again emphasized that while the RBA was monitoring the situation closely, several of the building blocks were falling into place as far as how you'd expect easing to flow through the economy. Steady rates for now is how we expect policy to play out in the near term with rates forecast by NAB to remain steady for the next two meetings."
NAB's still expects cuts by the tune of 50 bps, "with the next most likely cut slated for the June meeting" the bank says.