No change at the Reserve Bank of Australia first meeting of 2018 today on February 6

Cash rate target still at 1.5%, no change

RBA says:

  • AUD remains within the range it has been over the past two years on trade-weighted basis
  • Rising AUD would result in slower economy, inflation
  • Australian economy expected to grow around 3 pct in medium term
  • low level of interest rates continuing to support the Australian economy
  • outlook for non-mining investment has improved
  • public infrastructure investment supporting economy
  • household consumption is a source of uncertainty
  • labour market continues to strengthen
  • unemployment rate expected to decline gradually
  • wage growth to remain low for some time, pick up gradually
  • nationwide house prices little-changed over past six months
  • reports some employers finding it difficult to hire workers with necessary skills
  • inflation likely to remain low for some time
  • central forecast for CPI to be a bit above 2 pct in 2018
  • Further progress on unemployment, inflation, likely to be gradual

Quick Headlines via Reuters

AUD not caring at all ... barely moving

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Later this week, still to come from the Bank:

  • Thursday (February 8) Governor of the Bank Philip Lowe speaks at the A50 Australian Economic Forum dinner
  • Friday (February 9) the Bank publish its first Statement on Monetary Policy for the year