The Reserve Bank’s latest minutes suggest inflationary pressures have eased, leaving the door open for a Melbourne Cup Day rate cut.
The RBA minutes show it’s policy has shifted to a more dovish stance with scope for a rate cut. Westpac chief economist Bill Evans said the, “door is open,” for the RBA to cut rates on Melbourne Cup Day, but the decision may be delayed until December. But HSBC chief economist Paul Bloxham said: “We still expect underlying inflation to remain elevated and for the RBA to be on hold for the rest of this year,” he said.
Source: Herald Sun
