Ahead of this due later: AUD traders - heads up for a speech from RBA Governor Lowe today
A quickie comment from Westpac on their outlook for rbaa Reserve Bank of Australia policy (bolding mine):
The Reserve Bank Board next meets on June 5.
- The minutes of the May Board meeting which were released on May 15 indicate that the Board feels no urgency to move on rates. Indeed the Board implies that there should be no 'embarrassment' in holding rates steady in a world where rates are being increased in other countries as it has become a "source of stability and confidence".
We expect that the conditions required to justify an interest rate increase are remote.
- Westpac continues to expect that the cash rate will remain on hold for the remainder of 2018 and 2019.
