RBA Dec meeting minutes due soon. They are probably irrelevant (the minutes too).

Reserve Bank of Australia December meeting minutes are due at 0030GMT. I popped a preview up yesterday:

• AUD traders - heads preview up for RBA minutes

The cash rate has been on hold for years now, Governor Lowe has remarked in the past that the RBA is source of stability. I'd prefer it if they were a source of striving to satisfy their mandates (kudos on the employment leg, not so much on t'other though).

Meanwhile, local short-term rates markets are heading higher, even as the RBA leaves the cash rate unchanged. Higher borrowing rates are not what is needed in the Oz economy right now. The RBA seems unconcerned though. And the Bank is on holiday from monetary policy decisions until February 2019 (next meeting is on Feb. 5). Ah well,, let's see what they have to say in the minutes.