FXStreet (Guatemala) – Analysts at RBS explained that the RBA made few substantive changes to its September statement and left rates unchanged at the September meeting.
Key Quotes:
“Macroprudential measures introduced late last year appear to be weighing on lending for investment in the housing market. Investment lending has fallen in two consecutive months, and July data is released tonight alongside home loans data. Further declines in investment lending and home loans may give the RBA greater scope to ease monetary policy.”
“Two RBA speakers are due over the next 24 hours after RBA’s Ellis spoke on financial stability and the property market yesterday. Assistant Governor Debelle and Deputy Governor Lowe each speak – Mr. Debelle’s comments are on “FX Global Code of Conduct” and thus could touch specifically on RBA policy and the AUD.”
“The RBA retains a generally positive stance on domestic employment, but with risks surrounding China intensifying, an increase in the unemployment rate in August (released Wednesday night / Thursday morning local time) could push the RBA toward a more dovish tone or even new rate cuts.”
(Market News Provided by FXstreet)