Latest note from Macquarie Bank economist James McIntyre
- now sees a 25 bps cut in August vs May prev
"The better than expected result removes a key support for our outlook for the RBA to deliver a rate cut in May. The upcoming 1Q16 CPI data (27April) and trends in the AUD could still tip the RBA into a May easing, but we think the balance of risks has now shifted to a later, August cut"
AUDUSD currently 0.7654 after the latest Aussie jobs data out earlier.
