Nomura have forecasts a Reserve Bank of Australia rate cut in November 2019 followed by another in February 2020.
- And assess the likelihood of QE from the Bank at 40%
While Nomura are tipping further downside for AUD they say easing from other central banks is blunting the impact of RBA easing and acting as a support for the AUD.
Nomura with a familiar refrain, see:
- below-trend growth
- below-target inflation
- RBA running out of patience
- RBA very wary of elevated global risks
- Nomura cautious on global growth, trade tension
policy easing by other central banks …. is blunting the currency-lowering impacts from its own easing