ANZ forecasts no rate cuts for the rest of the year

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Wednesday, Mar 23 2016

ANZ forecasts the RBA is on hold for the rest of this year and through 2017. According to ANZ economy is on firmer footing. Global risks are dissipating, while domestic economy is likely to continue to be a slow grind. ANZ had previously been looking for two further cuts this year.

"While the strength in business conditions is encouraging, retail sales have softened, housing activity - while still solid - is unlikely to be a significant contributor to growth this year, and the outlook for non-mining investment remains disappointing. Further inroads into the unemployment rate are likely to be hard won."

Aussie is currently being traded around 0.7620 area. Pair is likely to find support around 0.7550 handle and resistance above 0.7650 level. Later today, in the US session, New Hone Sales figures are scheduled for a release.

More in this category: « German ZEW Economic Sentiment improved in March Euro still influenced by Brussels attacks »

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