Westpac Bank: The Reserve Bank of Australia may delay the next interest rate cut until August.

Ryan Wells, economist at Westpac Bank in the Western Pacific, stated that although Australia's employment data for May showed a slowdown in job growth, this data is unlikely to change the stance of the Reserve Bank of Australia, as the central bank believes the job market remains relatively tight. Westpac Bank continues to hold its view that the next interest rate cut by the Reserve Bank of Australia is most likely to occur in August. The Reserve Bank of Australia is aware of the downside risks facing global and domestic economic growth, but has also made it clear that it hopes to adjust policy in a cautious and predictable manner.