CAPEX disappointing, further RBA cuts near term - ANZ

FXStreet (Bali) - According to ANZ, today’s CAPEX release confirms that the outlook for non-mining investment remains disappointing, suggesting that another RBA rate cut is likely near term.

Key Quotes

"In our view, today’s CAPEX release confirms that the outlook for non-mining investment remains disappointing."

"The ongoing weakness in the outlook will provide further confirmation to the Bank that the economy needs further stimulus."

"We continue to expect another near term RBA rate cut, most probably at the March meeting."