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11 Apr 2013
Forex Flash: RBA cut back on the table after Aus jobs - NAB
FXstreet.com (Barcelona) - According to NAB, the poor Australian jobs number, and with the outlook for non-mining investment still poor, "the prospect of a further rate cut by the RBA is back on the table, especially if the Q1 CPI on April 24 is well behaved (NAB expects a 0.5% increase in the underlying rate for 2.4%yoy)."
"But a May rate cut still looks too early, given the recent strength in retail sales and the small gains in house prices. A June cut is more likely, as it also affords the RBA the time to wait for the Q1 Capex Survey on May 30" the bank adds.
"But a May rate cut still looks too early, given the recent strength in retail sales and the small gains in house prices. A June cut is more likely, as it also affords the RBA the time to wait for the Q1 Capex Survey on May 30" the bank adds.