15 Sep 2015
No surprises from RBAS today… no change in October either? – BBH
FXStreet (Edinburgh) - The research team at BBH assessed today’s minutes from the RBA and see the central bank staying put at its October meeting as well.
Key Quotes
“RBA minutes were released overnight. It was concerned about the impact of the China slowdown and heightened market volatility, saying they posed risks to the global growth outlook”.
“However, the RBA said it was too early to assess the actual impact on its growth forecasts for Australia”.
“It also noted that cost-cutting in the mining sector would eventually lead to weaker than expected investment”.
“All in all, there were no real surprises in the minutes. AUD made a new high for this move near .7165 today before falling back a bit”.
“We think that with China numbers still softening, there is still an underlying dovish bias at the RBA. Next RBA meeting is October 6, and no change is expected then”.
Key Quotes
“RBA minutes were released overnight. It was concerned about the impact of the China slowdown and heightened market volatility, saying they posed risks to the global growth outlook”.
“However, the RBA said it was too early to assess the actual impact on its growth forecasts for Australia”.
“It also noted that cost-cutting in the mining sector would eventually lead to weaker than expected investment”.
“All in all, there were no real surprises in the minutes. AUD made a new high for this move near .7165 today before falling back a bit”.
“We think that with China numbers still softening, there is still an underlying dovish bias at the RBA. Next RBA meeting is October 6, and no change is expected then”.