The T D Securities (TDS) Analysts are out with their thoughts on Wednesday’s surprisingly upbeat speech delivered by the Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle.
Debelle is likely to make an appearance again today at 0230 GMT.
Key Quotes:
“Debelle poured cold water over near-term rate cut hopes.
The key sentence was “Hopefully we will get some resolution of this tension in the coming months with the incoming flow of data”.
RBA clearly stated that it may take some time for this ‘tension’ to be resolved. This patience contrasts with a market that is impatient for a cut – or at the very least an explicit easing bias – at the next Board meeting on May 7.”
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