Money: Australia's NAB now sees two more central bank rate cuts by February 2020 - PressFrom - Australia
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MoneyAustralia's NAB now sees two more central bank rate cuts by February 2020

08:00  11 september  2019
08:00  11 september  2019 Source:   reuters.com

Unconventional policy 'unlikely', RBA says

Unconventional policy 'unlikely', RBA says The Reserve Bank has told MPs it is "unlikely" that it will need to employ unconventional monetary measures. The Reserve Bank has told MPs it is "unlikely" that it will need to employ unconventional monetary measures, even as economists predict more rate cuts from the central bank. Responding to written questions from the House of Representatives Standing Committee on Economics, the RBA again acknowledged it had been studying the effects of such moves in other countries and could consider them, but that did not imply acceptance they would be needed.

Australia ' s central bank cut its main cash rate a quarter of a percentage point to a record low of 1.25% on Tuesday, a well-flagged move given The Australian dollar nudged up 0.15% to

The government wants the RBA to explain why it's failed to keep the economy growing — but pressuring the central bank might just create a housing bubble

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However, the central bank said it stands ready to cut rates further if necessary. The remarks suggest the bank will wait a while longer before moving to push official interest rates further from the current record low Anything below that would see bets on a rate cut before the end of the year rise.

The Reserve Bank of Australia could be forced to cut the cash rate to 1% in the next 12 months and even resort Interest rates : why the Reserve Bank of Australia has been cutting away. NAB now sees two more RBA rate cuts and 'the possibility of unconventional monetary policy' (@BIAUS) https

.6987 after the rate decision as a cut was fully priced-in. Financial markets now predict a second cut by

Australia ' s central bank is expected to hold rates at all-time lows well into 2021, a Reuters poll showed on Friday, as a dovish turn by its U.S. counterpart and a run of soft economic data at home quashed any probability of an earlier rate hike. The Reserve Bank of Australia (RBA) stretched its.

Australia's NAB now sees two more central bank rate cuts by February 2020© Reuters/David Gray FILE PHOTO: FILE PHOTO: The logo of National Australia Bank is displayed outside the firm's headquarters in central Sydney National Australia Bank on Wednesday revised its outlook for interest rate cuts by the country's central bank, predicting at least two more easings to 0.5% by February from previous forecast of one cut.

NAB said a further reduction to 0.25% by mid-2020 was likely along with the adoption of non-conventional monetary policy measures unless Australia's conservative government delivered "meaningful" fiscal stimulus.

The Reserve Bank of Australia (RBA) has chopped interest rates twice since June to a record low of 1% and has shown willingness to do more if needed to revive growth and inflation.

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Australia ' s top central banker on Thursday said a recent cut in interest rates would not be enough to revive economic growth, an unusually blunt declaration that led Inflation and wages growth have also been more subdued than the bank previously expected. Lowe said Australia could, and should, push

National Australia Bank ’s economics team forecasts two more reductions from Australia ’ s central bank and “the possibility of unconventional monetary policy”, including quantitative easing. In a revised forecast NAB now sees two further rate cuts by the Reserve Bank of Australia (RBA) to 1

"The forecast of lower interest rates reflects increased downside risks to the domestic economy and greater uncertainty about the world economy," NAB said in a statement.

"Importantly, we continue to see the need for additional fiscal stimulus, through new infrastructure investment, cash hand-outs and/or the pull-forward of tax cuts."

A survey released earlier in the day showed Australian consumers had turned more pessimistic as concerns about the near-term economic outlook weighed.

Construction jobs losses likely to push unemployment higher and interest rates lower.
This week's jobs data is expected to show unemployment rising another notch, a trend that is unlikely to change anytime soon as residential construction rolls over from its peak early last year.

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