RBA Gov Lowe spoke Tuesday - opinion varies if he signalled an imminent rate cut

Reserve Bank of Australia Governor Lowe spoke on Tuesday, Giles had the info:

• RBA's Governor Lowe remarks on Australia's economy 'reaching a gentle turning point'

A couple of analyst responses now, varying interpretations 9bolding mine):

Westpac:

• Lowe said Australia's economy is at a "gentle turning point"
• reiterated he's prepared to cut interest rates if needed to support the recovery
• but he did not signal an imminent move which some in the market had been hoping for

NAB:

• speech was not as blunt as the one he gave … in May ahead of cutting in June
• we still think it likely that the (RBA) will cut rates next week to 0.75% given the downside risks to global growth, spare capacity in the labour market, and subpar growth in GDP
• there are few signs yet that tax cuts are boosting spending