Its unanimous, Reserve Bank of Australia to hold cash rate at 4.35% at next week’s meeting

Reuters poll of economists finds:

RBA on hold in November and December

• All 30 economists in the poll expected the RBA to
  hold at 4.35% at the November 4-5 meeting
• All but one expect a hold at the December meeting

20
of 29, expected a 25 basis point cut in February

• 8 predict no change
• 1 sees a 50bp cut

****

BlackRock Australasia:

• “We think the data was pretty much in line with the RBA’s
  thoughts about the path of core inflation. That is, it’s still
  too high for them to think about cutting the cash rate in
  2024…early 2025 is probably a bit more realistic.”

Australia’s big four local banks, ANZ, CBA, NAB, and Westpac
forecast no rate change this year

• all expect a cut at the February 2025 meeting

Reserve Bank of Australia Governor Bullock

This article was written by Eamonn Sheridan at www.forexlive.com.