A slim majority of economists polled by Reuters expects Australia's central...
SYDNEY - A slim majority of economists polled by Reuters expects Australia’s central bank to keep rates at a record low this week although calls for an easing have grown louder after disappointingly weak first-quarter inflation.
A raft of banks from ANZ to ING, JPMorgan and Citi are among the 17 predicting a cut on Tuesday. This is a sharp turnaround from the previous poll in March when a majority had forecast unchanged policy until 2020. The change in the outlook accompanies disappointing fourth-quarter gross domestic product data for March quarter while retail sales - a gauge of consumer health - have also remained tepid for some time now.
A majority of economists in the Reuters survey, including Morriss, predict two cuts to 1.00 percent later this year as the slow economic momentum has already led the RBA to ditch its long-held tightening bias.
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