The Minutes from the Reserve Bank of Australia March 2015 Monetary Policy Meeting are due on 17 March 2015 at 0030GMT
- That's 11.30am Sydney time on Tuesday
- They are going to be published in green ink 'cause its St. Patricks Day! (Please don't believe everything I write)
- The March 'on hold' decision was a bit of a surprise for economists and analysts, many who had been expecting a back-to-back cut after the February cut. It was a bit of surprise to the market also, OIS pricing for a 25bp cut was shaded to around a 60% probability
- So, the Minutes will be a focus, especially for those surprised
For example, ANZ note:
- "The economic data under discussion would have been weak, especially the spike in the unemployment rate in January and the very disappointing CAPEX plans, so we will be looking for further insights into what stayed the Bank's hand."
- "There may also be discussion of the upcoming Financial Stability Review. This review is likely to provide some insight into the RBA's thinking on the imbalances in the housing market (namely recently strong investor lending in Sydney) and how the announced APRA measures are likely to impact."
The next RBA meeting isn't far away (well, 3 weeks) ... Tuesday April 7
