The market is now taking a pause to assess just what Rita will do. It won't fully digest Rita until Monday, although the forecasts are looking a little better than yesterday at present.
More Quotes from Jarrod Kerr:
The good news is the surge in business investment is laying the groundwork for improved growth. This is what the central bank wants and so they will stay on the sidelines.Jarrod Kerr
Growth in employment this year is likely to be substantially lower than over the past year. In that sort of environment, we forecast the central bank will leave interest rates unchanged for the rest of the year.
Jarrod Kerr
There's no need for the central bank to raise interest rates again.
Jarrod Kerr
We don't think there is anything to warrant a rate move from the central bank. Even though building approvals rose in November, housing is still in correction mode.
Jarrod Kerr
The interest-rate advantage with the U.S. will continue to narrow and that will weigh on the Australian dollar.
Jarrod Kerr
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