Opinion
The RBA is still threading the needle
The Reserve Bank’s next policy move is more likely to be a rate cut despite the evidence seen in the stronger than expected March inflation figures, says GSFM’s Stephen Miller.
Stephen MillerFormer advisor Paul KeatingThe Reserve Bank of Australia board will almost certainly leave the policy rate unchanged when it meets next week.
But given the higher-than-anticipated price pressures evident in the March quarter consumer price index and evidence of ongoing labour market resilience, do not expect governor Michele Bullock to abandon her circumspection regarding the next move in the policy rate.
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