Analysts at Standard Chartered note that they have lowered the Reserve Bank of Australia (RBA) terminal rate forecast by 25 basis points but add that
"We now expect only one more 25bps hike in November vs 25bps hikes each in September and November previously."
"The job market may have peaked but remains tight and should support wage growth. This, along with the monthly rise in home prices, may prop up spending, especially if households dip into their significant excess savings. The lack of a productivity pick-up may also increase unit labour costs, adding to inflation."
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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