RBA: Official Cash Rate seen on hold at 0.1% at July 6 meeting – Reuters poll

The Reserve Bank of Australia (RBA) is likely to maintain the Official Cash Rate (OCR) at a record low of 0.1% for the seventh straight meeting next Tuesday, the latest Reuters poll of 20 economists showed.

Key findings

“Median of 20 respondents shows cash rate at 0.25% in Q2 2023.”

“Five of 20 economists predict at least 1 rate hike by mid-2023 to 0.25%, five expect two rate rises, remainder see no change.”

“Economists unanimously expect RBA will not extend three-year yield target beyond april-2024 bond.”

“Majority predict RBA will adopt a "flexible" approach to QE when the current plan ends in Sept.”

• AUD/USD drops back towards 0.7500 on mixed China PMI data, coronavirus pessimism