The Barclays Research Team offers its afterthoughts on the Reserve Bank of Australia’s (RBA) rates on-hold monetary policy decision announced earlier this Tuesday at 0330 GMT.
Key Quotes:
“The central bank’s overall message, however, remains dovish, with the door to further easing remaining open, if needed.
The statement noted that the effects of lower interest rates, and long and variable lags in policy transmission kept RBA on the sidelines, but it is ready to ease further if needed.
Today’s decision appears to have been driven in part by positive global developments and a slightly weaker AUD, both of which appear to give RBA some solace.
Q1 20 to be the next move, subject to weaker domestic data.”
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