Here's a piece from Bloomberg on the Reserve Bank of Australia
It says the case is building for interest rate cuts:
- Australian wage rises are the smallest on record
- Jobs growth has evaporated
- Firms plan to cut investment
- Add a stronger currency
- And global calls for stimulus
On 2 ... its probably too early to say, especially given 2015 was the strongest employment growth for around 9 years.
Says market pricing is showing traders' pricing in a cut by August
- And "a better than even chance" of another by a year's time
The article cites Paul Bloxham, chief Australia economist at HSBC (Bloxham was previously at the RBA)
- "Despite the Reserve Bank of Australia's considerable reluctance to cut the cash rate further, we expect they may have to around mid-year
- Another bout of 'jawboning' the currency lower by the governor may be just around the corner."
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I'll have a preview of tomorrow's meeting up in the morning
