FXStreet (Bali) – The ANZ Research Team provides a preview of today’s RBA minutes, in which further insights into the Central Bank’s thinking will be provided.
Key Quotes
“Today we will be looking for colour on the RBA’s thinking on the latest economic developments, particularly around recent strength in the labour market and the weak Q3 inflation data.”
“Last week’s October labour market report was startlingly strong, and while there was undoubtedly noise in the data, underlying jobs growth has been solid for some months now.”
“When we called for 50bps of cash rate cuts in H1 2016 we flagged that the labour market conditions would likely remain positive in the near term. But we didn’t expect a tick down in the unemployment rate below 6%.”
“If sustained, it makes a cash rate cut in February less likely, but there are two more labour force reports (with potential for some payback in November), Q4 CPI data and the Fed to digest before then.”
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