ANZ ditches forecast for RBA rate increases

Original article by David Rogers
The Australian – Page: 21 : 14-Mar-19

The ANZ Bank has scaled back its expectations for official interest rate rises in the near-term, forecasting that the cash rate will remain at 1.5 per cent until 2021. ANZ had previously expected two increases in the cash rate during 2020. ANZ’s David Plank says economic indicators other than GDP growth need to be taken into account when forecasting monetary policy, including labour market data. He adds that the Reserve Bank could act quickly to reduce the cash rate if signs of weakness in the labour market emerge.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK HEALTH SOCIETY LIMITED, WESTPAC BANKING CORPORATION – ASX WBC

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