A piece from the late afternoon (Australian time) Australian Financial Review today on the Reserve Bank of Australia meeting next week.
Its titled: RBA under pressure to cut rates, and appears to be ungated if you'd like to read the whole thing
The RBA meet next Tuesday (October 6) and while a cut is not the consensus expectation the article cites the most recent IMF World Economic Outlook which says the decline in metals and energy prices will cut around 1% from GDP rates of commodity reliant emerging markets, and also impact, but not as much, on countries like Australia.
Using the latest from the IMF to say the RBA is under pressure to cut seems a bit of a stretch to me. Sure, it's a factor, and indeed the article says a rate cut on Tuesday "would be unexpected". Its not out of the question, of course, all meetings are "live" it adds.
There is more at the article, link above.
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I'd second that 'not expected but still live' note - especially with the Fed not hiking last week. We've even seen that today with the larger than expected rate cut from the Reserve Bank of India (and more here).
The AUD doesn't care .... its higher in London trading so far.
