15 Mar 2016
RBA Minutes: No clues on the policy trajectory - BBH
Research Team at BBH, notes that the minutes from the recent meeting of the Reserve Bank of Australia did not shed fresh light on the trajectory of policy.
Key Quotes
“It seemed optimistic that the improved hiring (record quarterly jobs gain) can be sustained but remains concerned about the contagion from a slowing China. The door to another rate cut remains open, but the RBA is not particularly in a hurry. The Australian dollar approached $0.7600 yesterday and recorded a minor reversal pattern. It can slip toward $0.7400 without doing much technical damage, though a convincing break of it could warn of a more significant top is in place."
Key Quotes
“It seemed optimistic that the improved hiring (record quarterly jobs gain) can be sustained but remains concerned about the contagion from a slowing China. The door to another rate cut remains open, but the RBA is not particularly in a hurry. The Australian dollar approached $0.7600 yesterday and recorded a minor reversal pattern. It can slip toward $0.7400 without doing much technical damage, though a convincing break of it could warn of a more significant top is in place."