75bp of Reserve Bank of Australia rate cuts to come (Reuters poll) ...Middle East

Reserve Bank of Australia to cut cash rate to 3.85% on May 20, say 42 of 43 economists

one forecasts 50 bps cut (of the big 4 Australian banks ANZ, CBA and WPAC are tipping a 25bp cut next week, NAB a 50bp cut)to cut cash rate to 3.35% by end of 2025 according to the median forecast

In the report, Reuters quote ANZ:

"Following tariff news at the start of April, we shifted our expectations. We're expecting the cash rate will go to 3.35% now. That shift was really a rough lesson of a very changing, uncertain global environment where global growth was likely to slow," "There are indications some of those tariff announcements are going to be wound back but the big question is how this actually shakes consumer confidence and how businesses are feeling... There is some clear softness in the business environment, which would support a rate cut from the RBA next week." This article was written by Eamonn Sheridan at www.forexlive.com.

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