No change expected, although they could cut…
The RBA will announce there latest decision on rates in the new trading day (10:30 PM ET/02300 GMT). The expectation is for no change at 2%, but with a bias for a cut to 1.75%. The lower quarterly CPI inflation report, slower growth from China and the recent mortgage rate hikes should keep the RBA leaning more toward increased stimulus. The question is the timing.