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Interest Rate Rise, will they or won’t they?

The RBA has been at pains to emphasise that policy decisions are based on the medium-term outlook. More timely data on that outlook, such as the capex expectations, has highlighted the challenge from the mining boom remains. The reserve bank would be extremely brave to raise interest  rates after one of the worst quarters in 20 years. In my view the RBA will wait for the employment data due out 2 days after their meeting if these figures are as expected then I think an interest rate rise in July is imminent.