RBA minutes offered nothing new - TDS

Research Team at TDS, notes that there was next to no chance that the RBA Minutes from 2w ago were going to reveal anything new after the SoMP and Gov Stevens’ Parliamentary testimony Fri.

Key Quotes

“The takeaway is the RBA is in wait and see mode, no rush to act on its easing bias. Heightened volatility/China added to uncertainty, but the RBA did not spend much time on them instead suggesting that global growth would continue to be supported by accommodative monetary policy and lower oil prices. This reinforces the perception of a Bank that is highly reluctant to cut rates.”