Pimco Sees More RBA Easing on China Slowdown, Budget Tightening
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The Reserve Bank of Australia will have to cut interest rates further as China’s economic expansion slows, according to Pacific Investment Management Co., manager of the world’s biggest bond fund.
The Australian government’s commitment to return the budget to surplus in 2012-13 will also add impetus for additional policy easing, the money manager said in an e-mailed report today.