NAB calls for RBA to cut rate to 1%

Additional headlines crossing the wires from the National Australia Bank (NAB) advocating further RBA rate cut to 1%, following the release of poor business confidence and conditions data earlier on the day.

Headlines (Bloomberg):

“NAB's 1 percent rate call joins a growing group that includes JPMorgan Chase & Co., Morgan Stanley and Macquarie Bank Ltd. Prior to the Aug. 2 interest-rate cut, the lender had forecast a 1.75 percent rate through the third quarter of 2017.”

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