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RBA Board cuts policy rate 25 basis points

Posted by medicalfinancial on 2 October 2012

Below is a link to the NAB economic commentary around today's rate cut. In summary:

  • The key to this rate cut is the outlook a year ahead, where the RBA is concerned that the end of the mining investment boom will lead to weaker growth;
  • The on-going strength of the AUD is putting the brakes on the economic outlook;
  • RBA has switched its focus to weak domestic demand in construction and labour demand;
  • Another 25bps of easing is probably coming;
  • The timing of the next rate cut could depend on the Q3 CPI (24 Oct), with a lowish outcome providing the green light for a follow-up cut in Nov. Otherwise rates could be on hold until February.

http://www.medicalfinancial.com.au/images/121003RBAOctStatement2012.pdf

Author: medicalfinancial
Tags: Website News

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