Head of Investment Strategy and Chief Economist at AMP Capital Dr. Shane Oliver expresses his take on the Reserve Bank of Australia’s (RBA) minutes released earlier today at 0030 GMT.
Key Quotes:
Overall the RBA’s latest minutes are dovish. Feb is live for another easing and we think they will go again.
Oliver highlighted key points from the minutes –
Wage growth not consistent with inflation target.
Important to assess the outlook in Feb.
RBA has the ability to provide further stimulus if required.
With no extra stimulus in MYEFO our view remains for another rate cut in February.
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