Strategists at UOB Group’s Quarterly Global Outlook noted the RBA will likely leave the OCR unchanged at 0.25% at the July 7 event.

Key Quotes

“We do not see further reductions in the OCR. However, it is likely the RBA will keep it on hold for an extended period.”

“The focus will thus remain firmly on end-user rates via the yield curve target, as well as ensuring sufficient liquidity in bond markets and the free flow of credit to households and business.”