JPMorgan chief economist Stephen Walters now expects the Reserve Bank of Australia to ease by 25 basis points on Tuesday, instead of staying on hold, largely because of deteriorating global economic data. "The deterioration in both domestic and offshore conditions in recent weeks...however, has convinced us that the case for the provision of earlier and bolder policy support has become irresistible." Expects the terminal cash rate to be at 3.0% vs latest rate at 3.75%. The AUD/USD is at 0.9671.
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