* The RBA still retain a mild easing bias. Sub-trend growth looks likely, even though confidence measures are lifting.
* The AUD is regarded as being “uncomfortably high”.
* The Board is in “wait and see” mode, gauging the effects on the competing economic forces from the previous rate cuts.
* Forward-looking indicators on the domestic economy had “generally improved”.
* Our major trading partners are expected to keep growing near their decade long averages.
* We continue to think that the current 2.5% cash rate is the low point for this cycle.
Read the full report: Economic Research
Commonwealth Bank