Bill Evans, Westpac Banking Corp.’s chief economist and the first to call the Reserve Bank of Australia’s latest easing cycle, has dropped his prediction of further interest-rate cuts as the labor market strengthens.
Three of Australia’s foremost market economists -- with a century of experience between them -- are defying their peers and traders’ bets by predicting the central bank will be forced to resume cutting interest rates.
AMP Capital Australian Corporate Bond Fund, which outperformed its peers over the past decade, prefers U.S. and European banks to the South Pacific nation’s lenders on improving economic prospects in those two regions.
JPMorgan Chase & Co. and Westpac Banking Corp. pushed back their forecasts for when Australia’s central bank will lower interest rates, with the strongest inflation in two years offsetting rising joblessness.
The Reserve Bank of Australia will lower its overnight cash rate target to a record low this year as Europe’s escalating debt crisis damages global growth, Westpac Banking Corp. chief economist Bill Evans predicted.