Goldman, JPMorgan Hold Out With Bet on Aussie Rate Cut

And then there were three: Goldman Sachs Group Inc., JPMorgan Chase & Co. and Macquarie Group Ltd. are sticking to bets the Reserve Bank of Australia will resume lowering interest rates as others ditch their rate-cut calls.

Westpac Banking Corp., National Australia Bank Ltd. and Bank of America Merrill Lynch economists -- with a century in combined experience -- now expect the RBA will maintain the record-low 2.5 percent cash rate. While keeping expectations for sub-par growth, they’ve bowed to Governor Glenn Stevens’s insistence borrowing costs are on hold for “some time yet.”