Bond traders are sticking with their view that the Reserve Bank of Australia will still cut interest rates next week, despite Thursday’s surprising blowout jobs report which poses a risk to inflation.

Uncertainty surrounding Donald Trump’s global trade agenda and cooling inflation in Australia are expected to be enough to get the central bank to act. That’s after the RBA left the cash rate unchanged in April, just one day before the US president unleashed sweeping tariffs that sent financial markets into a tailspin.