From the Reserve Bank of Australia (RBA) meeting outcome:
- No change to the cash rate, as expected by all analysts I’ve seen
- Says prudent course is for a period of stability for rates (final paragraph is unchanged)
- Still expects below trend growth for next few quarters
- Says AUD remains above estimates of fundamental value given falls in key commodity prices
- Says inflation running between 2-3% as expected, likely to continue
- Says sometime yet before unemployment declines consistently
Quick headlines there via Reuters
Full text of the accompany statement is here
Why, yes … I am being sarcastic …
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AUD is a little higher on the announcement – up around 20-25 points
