From Macquarie:
The RBA board will meet on Tuesday and the market outlook for policy is shifting. Markets are starting to believe the RBA is done cutting. However, we doubt incoming Governor Philip Lowe is arriving at a policy transition point.
Is the RBA sitting pretty? The economic data received since the last RBA meeting has been (on the surface) ‘semi positive’. The economy is expanding at an annual pace of 3.3%, above the RBA’s forecasts implied in their August MPS. The unemployment rate has declined to 5.6%.