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First rate hike by the RBA mid-2015 - ANZ

FXStreet (Bali) - Following today's Aus jobs data, ANZ expects the first cash rate hike by the RBA not to occur until mid-2015.

Key Quotes

"Given the significant changes that have occurred to the labour force survey recently, the underlying trend is difficult to ascertain from the official statistics – and we continue to suggest more weighting should be placed on other labour market indicators, such as job advertising, NAB capacity utilisation and profitability, etc."

"We expect the RBA will take a similar view and monitor closely developments in the unofficial labour market statistics. In addition, we note that the RBA has historically not begun to increase rates until the unemployment rate has peaked, which will complicate the monetary policy decision-making process."

"We remain of the view that the first cash rate hike is some while away, likely to occur in the middle of next year."

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