The Reserve Bank of Australia (RBA) is set to meet on Tuesday against a backdrop of improving economic conditions at home but increased uncertainty abroad as Greece drama continues to unfold and concerns of a credit bubble in China linger.
Taking into account the myriad of factors, economists expect the central bank is likely to stand pat this month after having reduced interest rates twice this year, in February and May.
“The combination of having already delivered 50 basis points of cuts in H1 and the more positive domestic numbers are expected to keep the RBA firmly on hold next week,” said Paul Bloxham, chief economist for Australia and New Zealand at HSBC.
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