- The conditions are in place to move to a less restrictive monetary policy
- A rate cut in April cannot be ruled out but probability of that is low
- There are no reasons for cuts of more than 25 bps at a time
They want to leave April as an open discussion but in all likelihood, that’s not when they would be comfortable moving. They have worked hard to get markets to conform to a rate cut pricing for June and they can also use that to wait on the wages data in May. So, it wouldn’t make sense to suddenly pivot back to April now.
This article was written by Justin Low at www.forexlive.com. Source