Via the ANZ late yesterday comes a forecast for three rate cuts before May next year:
We now expects the cash rate to fall another 75bps to 0.25% by mid-2020 as the growth slowdown flows through to the labour market and the RBA responds.
A so-so labour report makes the call more difficult. At this stage, we think the RBA will deliver further cuts in February and May against the backdrop of a sticky-to-higher unemployment rate and continued global uncertainty, taking the cash rate down to 0.25 per cent.