RBA: any more easing left?
As widely anticipated, particularly after last week’s hotter monthly Australian CPI figures, the RBA kept the cash rate at 3.6% at today’s meeting. The Board’s decision was unanimous, and there was little firm guidance suggesting any degree of urgency to lower interest rates again in the near-term, in our view. From our perspective key comments within the post meeting statement leant relatively more “hawkish”. More specifically the RBA noted that based on the recent data Q3 inflation might be “higher than expected” and that the decline in core inflation has slowed. This is the signal coming from our pipeline inflation...