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Bloomberg
The Reserve Bank of Australia (RBA) signalled it expects to lower interest rates this year. It is setting off fresh round of forecasts for deeper policy cuts as economists ponder where the lower bound is Down Under.
JPMorgan Chase & Co. on Wednesday said it expects the central bank will have to cut its 1.5 percent benchmark 1 percentage point by the middle of 2020 in an attempt to achieve the RBA’s inflation and employment goals. That forecast follows projections of a 0.75 percent rate over the same time frame from Westpac Banking Corp. and Capital Economics.
After holding rates steady si-nce taking over, RBA Governor this month acknowledged easing bias as he struggles to revive sagging inflation and growth.