Already a subscriber?Sovereign ratings house Fitch still expects the Reserve Bank will cut interest rates this year, despite bond traders pushing out the first monetary easing into the second half of next year.
Mr Zook said the central bank was also likely to “look through” any impact that the federal budget would have on inflation.“The big question is whether the RBA can maintain the gains in the labor market that we’ve seen over the past several years, while still bringing down inflation – our base case is that they do, but there are certainly growing risks to that view.”
“Risks to their inflation forecast are skewed to the upside, but they chose to hold off and await further information.”
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