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4 Mar 2013
Forex Flash: No change in RBA cash rate tomorrow - NAB
“A bevy of local releases today, with quarterly company profits and inventories ahead of GDP
Wednesday and suggesting there is still downside risk to the RBA’s Feb forecast that GDP will print close to 1%,” says Senior Economist Markets at NAB David de Garis adding: “After last week’s Construction/Capex data revealed lower business investment in Q4, we’ve seen some of the reasons why companies pulled back on capital spending. And it’s come in the form of lower earnings,” he reckons.
David concludes: “No change in RBA cash rate still expected; we expect RBA to retain easing bias tomorrow,” the economist notes.
Wednesday and suggesting there is still downside risk to the RBA’s Feb forecast that GDP will print close to 1%,” says Senior Economist Markets at NAB David de Garis adding: “After last week’s Construction/Capex data revealed lower business investment in Q4, we’ve seen some of the reasons why companies pulled back on capital spending. And it’s come in the form of lower earnings,” he reckons.
David concludes: “No change in RBA cash rate still expected; we expect RBA to retain easing bias tomorrow,” the economist notes.