January 30, 2020 / 1:09 AM / 19 days ago

National Australia Bank pushes back policy easing forecast to April

FILE PHOTO: The logo of National Australia Bank is displayed outside the firm's headquarters in central Sydney, Australia, Aug.4, 2017. REUTERS/David Gray/File Photo

SYDNEY (Reuters) - Economists at National Australia Bank (NAB.AX) on Thursday pushed back their forecast for further monetary easing by the country’s central bank to April from their previous call for a February rate cut.

The move aligns NAB’s forecast with financial market pricing indicating a mere 20% chance of a 25-basis-point cut to the 0.75% cash rate in February. RBAWATCH

The RBA holds its next policy meeting on Feb. 4 and the market had already sharply scaled back the chance of an easing following stronger-than-expected employment report last week.

Reporting by Swati Pandey; Editing by Shri Navaratnam

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