The National Australia Bank (NAB) expects the Reserve Bank of Australia (RBA) will go hard and early when it comes to interest rate cuts, forecasting the bank will cut Australia’s cash rate by 25 basis points in both June and August. The NAB previously forecast the RBA would move in July and November. “Thursday’s labour force data provided further evidence that the economy is weaker than the RBA had expected,” said Alan Oster, the NAB’s Chief Economist. “The unemployment rate has risen from an eight-year low of 4.9% in February to 5.2% in April. Although employment has remained strong, other measures point to ... (full story)