Analysts at TDS note that the RBA’s June Board meeting minutes said little new on the macro front: expecting growth above 3% this year and next, a ‘gradual’ decline’ in the unemployment rate, as well as ‘gradual’ lift in wages and inflation over time.
Key Quotes
“The lack of a repeat of “the next move is up” for the cash rate has some analysts thinking the RBA is turning dovish. We disagree, since RBA Governor Lowe’s speech last week reiterated that the next move is more likely to be up.”
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