From the AFR:
Nomura Australia rate strategist Andrew Ticehurst says a combination of low inflation, a stubbornly high Australian dollar, and the slowdown in China will force the RBA’s hand for a third time this year by November.
…”In my experience, many people wait for RBA comments and guidance in order to form their opinions about what the bank might do,” he said.
“I believe that if you watch the data and watch markets in real time, you should be able to think about what they’re likely to say in their forthcoming communications.”
That is exactly right. Apparently Ticehurst has the hot hand being the only economist to predict all four rate meetings right this year. Of course, meetings are neither here nor there, it’s the cycle that matters, and it remains down.
