Westpac made their 'pause' forecast for the Reserve Bank of Australia lat week (March 17).
Analysts at the bank have issued a note confirming that call. And saying they expect a rate hike at the May 2 meeting.
WPAC note (bolding is mine):
- The Minutes from the March Board meeting included the unusual: “Members agreed to reconsider the case for a pause at the following meeting, recognising that pausing would allow additional time to assess the outlook for the economy.”
- Signalling aspects of the decision process at the upcoming meeting is something I have not seen in previous Board Minutes. This approach indicates that there is arguably a preference for pausing.
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Earlier posts on the RBA:
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Back on Tuesday we had data showing the CPI lower in February:
From the RBA website with that lower February number:
