RBA Likely to Keep Interest Rates Unchanged at September Meeting, BofA Says
MT Newswires Live
Sep 24
The Reserve Bank of Australia (RBA) is expected to keep the cash rate unchanged at its meeting on Sept. 30, as "surprisingly" strong inflation and Gross Domestic Product data since the Bank's August meeting raise questions about the need for further rate cuts, according to a Wednesday report by Bank of America (BofA) global research.
A final 25 basis point cut in November is still likely, Bofa said.
However, the Bank is likely to offer limited forward guidance and may adopt a slightly hawkish tone, with Governor Michelle Bullock expected to emphasize a data-dependent, cautious approach, BofA added.
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