Earlier from Reserve Bank of Australia Governor Lowe, dropping the Bank's tightening bias::
Couple of bank comments.
NAB:
- the outlook for the unemployment rate and the labour market are key for monetary policy
- RBA believes it has room to be patient
- But it's likely that the only way rates could move this year would be down, if they move at all
CBA:
- Governor has shifted RBA's forward guidance to a neutral stance
- We continue to believe Lowe is a reluctant rate cutter
- RBA looks further away from a hike than we previously though
- we have pushed our RBA hike call from November 2019 to November 2020
via Reuters
More:
ANZ:
- Lowe has shifted the RBA's stance to neutral
- Growing concerns about the downside risks dominate what is still quite a positive central case
For more ICYMI … start at the bottom and read up for the chronology) :
- RBA Gov Lowe into a bit of jawboning on the AUD now: lower rates = lower AUD
- More from RBA's Lowe (Q&A): Planned tax cuts will boost incomes this year
- The four analysts expecting an RBA rate cut ... get ready for more to join in
- Australia financial press now: "RBA shifts to neutral"
- AUD marked down on Lowe's admitting next rate move is evenly balanced
- RBA's Lowe says the interest rate outlook is more evenly balanced
