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Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, General

With very little data out last week the main news for markets was the release of the June RBA Board meeting minutes. The minutes revealed no material changes to other recent RBA communications. The RBA still sees economic growth picking up to 3% in the next couple of years after the current expected soft patch in growth and March quarter GDP falling to only 1.7%. Economists expect the official cash rate to remain at 1.50% through all of 2017 and well into 2018. Current market pricing agrees and shows there will be no change in the official cash rate in 2017 and only a 25% chance of a rate hike by June 2018 versus virtually no chance of a rate cut.

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Source: Rural Bank


Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879