RBA far less gung-ho about rate cuts than financial markets
The Reserve Bank of Australia has poured cold water on suggestions a double rate cut was looming in May, citing concerns around global economic uncertainty and the prospects of a global trade war erupting.
A US-inspired global trade war has the RBA, and Australian mortgagees, on edge. (Image source: Shutterstock.com)
Financial markets continue to point to a near-certain rate cut in May but you wouldn’t know from reading the RBA’s Minutes of the Monetary Policy Meeting released on Tuesday (15 April).
What is clear is that the chances of a double rate cut – forecast by NAB
– is almost completely off the table.RBA Governor Michele Bullock and her new Monetary Policy Board used their inaugural meeting to quieten down the absolute racket being made by calls for…
