RBA leaves rates on hold, but analysts are still re-rating companies

In this week’s macro-economic news, the RBA left the cash rate on hold for another month. But there are more positive reports – ANZ’s Job Advertisements report shows more adverts in June, while private sector credit increased in line with expectations and retail sales had a strong May, the second month in a row with positive signs. Elsewhere, Macquarie Wealth Management has positively rerated ANZ and NAB, saying the banks “ability and willingness to reprice their mortgage books” continues to surprise them.

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