The Barclays Research Team revised its rate hike outlook for the Reserve Bank of Australia (RBA), in the wake of lower price pressures and decline in jobs.

Key Quotes:

“Against the disinflationary backdrop, we think the RBA is likely to look through the gradual decline in unemployment.

We are pushing back our RBA rate hike forecast to 2020, and now expect 2 hikes in H1 of 2020.

Previously, we had expected the RBA to start hiking rates in H1 2019.”