9 Dec 2014
Rate Call review: RBA to cut by 50bp in 2015 - NAB
FXStreet (Bali) - NAB has changed its call on Australian interest rates, now expecting two cuts of 25 bps in March and August 2015.
Key Quotes
"Cash rate cut of 25 bp now expected in March and another in August then remaining on hold until late 2016. Exchange rate to track US3 cents lower. GDP forecasts cut reflecting weaker history and terms of trade: 2014/15 2.5% (was 2.9%); 2015/16 3.0% (was 3.2%). Unemployment rate now to peak at around 6¾% (was 6½%)."
Key Quotes
"Cash rate cut of 25 bp now expected in March and another in August then remaining on hold until late 2016. Exchange rate to track US3 cents lower. GDP forecasts cut reflecting weaker history and terms of trade: 2014/15 2.5% (was 2.9%); 2015/16 3.0% (was 3.2%). Unemployment rate now to peak at around 6¾% (was 6½%)."