RBA to remain on hold throughout the remainder of 2017 – Westpac

Bill Evans, Chief Economist, at Westpac offered its outlook on the RBA monetary policy for the remainder of 2017 in his assessment of the consumer confidence data released earlier on the day.

Key Quotes:

“The Reserve Bank Board next meets on August 1.

Rates will remain on hold. We continue to predict that the Reserve Bank cash rate will remain on hold throughout the remainder of 2017.

A cautious consumer; a slowing housing market; and a weakening in the labour market with limited prospects of any boost to wages growth all point to another year of steady policy”