Back
17 Sep 2013
Flash: What to expect from today's RBA minutes - Westpac
FXstreet.com (Barcelona) - The minutes from the Reserve Bank of Australia September 3 meeting are released at 0130GMT, and according to Sean Callow, FX Strategist at Westpac, the central bank might, in a small degree, return to its easing bias.
Key Quotes
"The statement on the day was very brief and for the first time this year did not include the word “scope” (to ease policy further), instead retaining a neutral near term outlook."
"Some suggested this was the diplomatic response to the election 4 days later but the meeting after a rate cut is often lacking in tension anyway."
"We suspect the RBA is not neutral and that an easing bias of some degree will be evident in the minutes. AUD/USD bounced about 50 pips on the statement two weeks ago and could pull back somewhat less than that on today’s minutes, maybe 30 pips."
Key Quotes
"The statement on the day was very brief and for the first time this year did not include the word “scope” (to ease policy further), instead retaining a neutral near term outlook."
"Some suggested this was the diplomatic response to the election 4 days later but the meeting after a rate cut is often lacking in tension anyway."
"We suspect the RBA is not neutral and that an easing bias of some degree will be evident in the minutes. AUD/USD bounced about 50 pips on the statement two weeks ago and could pull back somewhat less than that on today’s minutes, maybe 30 pips."