According to the latest news from the National Australia Bank, the bank now expect one interest rate cut from the Reserve Bank of Australia's current 1.5% to 1.25% in November 2017. Note that earlier NAB forecast two rate cuts of 25 bps on the central bank's meetings in June and September.

The NAB note:

• Economic activity is likely to be strong, judging by how Australia begins 2017.

• Real GDP in the 4th quarter of 2016 probably increased 0.9% q / q.

• The pace of growth in the 3rd quarter of 2017 may increase by 3%.

• The average annual growth rate for 2017 will be slightly lower at 2.3%.

• Investment in the mining industry decline