JP Morgan has pushed back RBA rate cut call to May from February

JP Morgan now expects the Reserve Bank ofAustralia (RBA) to lower its benchamrk interest rates by 25 bais points to 0.5% in May compared to its previous forecast of a February rate cut. 

A majority of investment banks pushed back rate cut calls to April/May last week following the release of an upbeat Australian employment data for December. 

The above-forecast December inflation data released at 00:30 GMT further reinforced expectations for a status quo rate decision in February.