The next Reserve Bank of Australia meeting is Tuesday, November 3

  • UBS expect a 25bps cut to 1.75%
  • UBS previously saw November as on hold
  • Say it would be the "path of least regret " for the RBA
  • Say the cut is not a 'done deal'
  • UBS cite the cut is to "offset that part of rising regulatory costs that is likely to be passed through to the household sector"
  • Add that the Australian economy is rebalancing better than is widely perceived, and see as less likely any adjustment in the cash rate below 1.75%

MNI with the UBS headlines

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And, latest from Bloomberg ....

Their latest survey says 6 economists (of 26 surveyed) say the RBA will cut in November.