A wilting desire to raise interest rates

An apparent wilting desire to raise interest rates means that the Reserve Bank of Australia will leave interest rates at 1.5% at the policy meeting on Tuesday 3rd July and probably won’t raise rates until late in 2019. If anything, the chances have increased that rates won’t be raised until 2020. That could contribute to a further weakening of the Australian dollar from US$0.74 now to US$0.72, or below, by the end of this year.