Most economists tip no RBA cash rate cut in July: Bloomberg

The majority of economists expect the cash rate to remain on hold on July 2, the latest Bloomberg survey reveals.

Of the 27 economists polled by this week, 22 tip the cash rate to remain at 2.75%.

This is almost unchanged from the June 7 forecast when 21 out of 26 economists said no rate cut in July.

AMP Capital Investors chief economist Shane Oliver and Stephen Koukoulas from Market Economics are among the five economists tipping a rate cut in July.

The others are from analysts Nomura Australia, Goldman Sachs and RBC Capital Markets.

Looking ahead to August 6, economists are almost equally divided with 14 tipping a rate cut to 2.5% and 13 expecting no change.

The minutes of the June RBA monetary policy meeting said there was scope for further rate cuts if needed highlighting that previous rate cuts were supporting what appeared to be an improving housing market.