Hey Big Spenderrrr(s) - Australian Budget & RBA Preview
Let's start with the RBA.
The consensus is that a final rate cut is coming (from 0.25% to 0.1%).
Everyone seems to agree that it will be a matter of when rather than if.
Westpac are looking for;
RBA to cut the overnight cash rate to 0.1%
Three year target bond rate to 0.1%
Term Funding Facility rate to 0.1%
Exchange Settlement balances to 0.01%.
Originally they called for this to happen at the October meeting, but have since pushed this back to November.
NAB expect the RBA to announce outright QE purchases