The Reserve Bank of Australia (RBA) published the Minutes of its October monetary policy meeting on Tuesday, highlighting that case for holding rate s
The Reserve Bank of Australia published the Minutes of its October monetary policymeeting on Tuesday, highlighting that case for holding rate steady was stronger. Additional details of the RBA Minutes suggest thatdata on inflation, jobs and updated forecasts would be available at November meeting. Key takeaways “At October meeting board considered raising rates by 25bp or holding steady.” “Board members judged that case for holding steady was the stronger one.
” “Data suggested economy continued to grow modestly in the September quarter.” “Members believed the labour market had reached a turning point.” “Members noted there were few signs of wage price spiral materialising.” “Fall in A$ vs US$ had eased monetary conditions, though only at the margin.” “Trade weighted a$ only slightly lower than at start of year, limiting impact on imported inflation.” “Challenges to China economy could impact Australia if not contained.
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