Forex Flash: Need for three RBA 25bp cuts in 2013 - NAB
FXstreet.com (Barcelona) - NAB expects the December quarter CPI release (due 23 January) to confirm that inflationary pressures remained moderate in the final months of 2012.
NAB economist Robert Henderson notes: "We expect a core inflation rate of 0.7% (2.4% through the year; including the impact of carbon), which is unchanged from the September quarter outcome and well within the RBA's comfortable range."
"With the unemployment rate expected to rise to near 5¾% by mid year, we still see the need for three 25 bps cuts, which we have tentatively pencilled in for March, May and August" Robert adds.
NAB economist Robert Henderson notes: "We expect a core inflation rate of 0.7% (2.4% through the year; including the impact of carbon), which is unchanged from the September quarter outcome and well within the RBA's comfortable range."
"With the unemployment rate expected to rise to near 5¾% by mid year, we still see the need for three 25 bps cuts, which we have tentatively pencilled in for March, May and August" Robert adds.
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