0556 GMT - The Reserve Bank of Australia's steady approach amid uncertainty is a prudent strategy, says Shannon Nicoll at Moody's Analytics. The central bank's monetary policy remains in good position to respond to emerging issues, the associate economist says in a note. "Indeed, keeping some cash rate cuts in the back pocket could prove handy if demand flatlines or if heightened international uncertainty weighs heavily on Australia," Nicoll says. The RBA has some weighty data to digest before the next meeting, and by holding rates steady, the bank gets a head start on inflationary risks. The 1Q CPI data release is due before the May meeting, Nicoll notes, but doesn't expect the next cut before July. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 01:56 ET (05:56 GMT)
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