Reserve Bank of Australia October monetary policy decision

  • Says a rising AUD would slow the economy
  • Higher AUD is restraining price pressures
  • Global economy continuing to improve
  • Growth expected to pick up gradually over coming years
  • House prices rising briskly in some markets
  • Slow growth in wages, high household debt likely to constrain growth and spending
  • Says employment has been stronger over recent months, forward looking indicators strong
  • Signs conditions are easing in Sydney house prices
  • Says expects gradual increase in underlying inflation
  • Says Australia's terms of trade expected to decline but remain high

Quick Headlines via Reuters. Pretty dovish sort of headlines, but they were never going to be hawkish. On the dovish side of neutral ... but I'm splitting hairs. RBA on hold today, and they will be for some time to come.

And, here is the full text of the Statement by Philip Lowe, Governor: Monetary Policy Decision

For the rest of this year there is the November meeting then the December meeting. To kick off 2018 there is no January meeting - the RBA will be on holiday. Is it wrong for me to be looking forward to (no meeting) January so much? ;-)

AUD drops a few points. not much in it.

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