Any deterioration in employment and softer inflation figures could mean a rate cut during the expected May federal election – something that has only happened once before, during the 2013 election.
Softer economic and wage growth figures and a slide in house prices and business sentiment has already seen the market price in a 0.25 per cent rate cut for August.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
