6 May 2014
No tension over RBA's decision today - Westpac
FXStreet (Bali) - According to Sean Callow, FX Strategist at Westpac, there will be no tension today over the RBA’s decision on the 2.5% rate at 4.30 GMT.
Key Quotes
"The key phrase concluding the statement should also be identical to February, March and April: “the most prudent course is likely to be a period of stability in interest rates.” Elsewhere in the statement, we should see a mention of the low Q1 CPI but no major change in commentary on domestic activity."
"The language on AUD might also be very similar to April given AUD TWI is dead flat over the month. In April Governor Stevens said AUD would assist achieving balanced growth but “less so than previously as a result of the rise over the past few months” and that AUD “remains high by historical standards”. "
Key Quotes
"The key phrase concluding the statement should also be identical to February, March and April: “the most prudent course is likely to be a period of stability in interest rates.” Elsewhere in the statement, we should see a mention of the low Q1 CPI but no major change in commentary on domestic activity."
"The language on AUD might also be very similar to April given AUD TWI is dead flat over the month. In April Governor Stevens said AUD would assist achieving balanced growth but “less so than previously as a result of the rise over the past few months” and that AUD “remains high by historical standards”. "