Analysts at TD Securities note that the Minutes for the RBA November Board meeting did not make any ripples as expected, given the 6 Nov policy statement was more than fleshed out in the subsequent Statement on Monetary Policy.
Key Quotes
“RBA noted, “business investment could turn out stronger than expected”, “the next move in cash rates more likely to be an increase” and “unemployment rate could fall further in near term”. The comments were not new and had little impact.”
“The next data point of interest is next week’s capex report, followed by the usual run-up to GDP (trade, govt spending and inventories) for Q3 GDP released Dec 5.”
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