Westpac has updated its forecast from the Reserve Bank of Australia. In summary:
- We have raised our forecast for the RBA terminal rate from 2.35% to 2.6%.
- This implies a 50 basis point increase in the cash rate at the August meeting (revised up by 25 basis points) before a break in September.
- The last increase should be 25 basis points in February.
AUD/USD languished on the session here:
This article was written by Eamonn Sheridan at www.forexlive.com.
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