I posted earlier from RBA watcher McCrann - says if unemployment rate stays at 5.2% then probably no July cut from RBA
Here's another take on the RBA, also lukewarm on the chance of a back to back cut at the next meeting. In summary, UBS:
RBA was a bit hawkish relative to market expectations
The three things that they could have changed they left unchanged
- continued to characterise global growth as 'reasonable'
- continued to characterise financial conditions as 'accommodative'
- continued to characterise the labour market as 'strong'
repeated that they would be paying close attention to the labour market - which in theory makes July live
But UBS reckon:
- need to see an unemployment rate that's 5.4% or higher to get a back to back cut
