This week the key focus is the RBA, GDP and retail sales. Last week’s Q1 investment partials were uneven, but not as bad as feared. Our figuring now for Q1 underlying business investment in Wednesday’s national accounts points to a much milder decline than the 3¾% decline we had modelled behind our 0.9% GDP pick. We expect the RBA tomorrow to keep the cash rate steady and repeat its steady rates outlook.
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NAB