July jobs figures good but set to weaken
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August 09 2012, 12:29AM
HSBC chief economist Paul Bloxham said that continually solid numbers for employment in Australia meant the central bank would have to look outside the domestic economy for reasons to cut again.
"I think on domestic conditions alone, the RBA would probably be done in terms of rate cuts this cycle," he said.
"But we still have in mind that because the global economy is slowing down, given inflation is low and the exchange rate is high, the RBA will still choose to cut rates one more time in the fourth quarter."