Recent soft economic numbers for Australia and the fall in the annual rate of inflation add up to an unchanged cash rate on Wednesday. In fact, we forecast an unchanged rate for all of 2006.
More Quotes from Jarrod Kerr:
The Reserve Bank will be happy with this result and be content to sit on the sidelines. Companies are wearing some of the price pressure rather than passing it on. When consumers are tightening their purses, retailers don't want to be cranking up prices.Jarrod Kerr
The Reserve Bank has no need to tighten or to ease rates.
Jarrod Kerr
The good news is the surge in business investment is laying the groundwork for improved growth. This is what the central bank wants and so they will stay on the sidelines.
Jarrod Kerr
The much-needed rotation in the sources of Australia's economic growth away from consumer spending and home building is well under way.
Jarrod Kerr
I think the bank (RBA) will welcome that with open arms and it will further confirm their idea to sit on the sidelines at this stage and ride out the blip in oil prices.
Jarrod Kerr
Consumer confidence has fallen five times in the last eight months and signals that the difficult times are not over for households.
Jarrod Kerr
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