RBA to keep rates on-hold in September – Reuters poll

The latest Reuters poll of 36 economists showed that a majority of them see the Reserve Bank of Australia (RBA) leaving the Official Cash Rate (OCR) on hold at a record low of 1% next Tuesday.

Key Findings:

“All but one of 36 economists surveyed over the past week expect the RBA to hold the cash rate at its Sept. 3 monthly meeting. Barclays was the outlier, predicting a cut to 0.75%.

An overwhelming majority, or 32 of 36 surveyed, see at least one cut to 0.75% in the final quarter of this year compared with 27 of 40 economists in the July poll.

The cash rate is widely seen at 0.5% by early next year - a level considered to be the floor for the RBA.

More than 80% of those polled, or 29 of 35, predict policy at 0.5% until end-2020.”