Highlights from the RBA statement

  • RBA: Most prudent course is likely to be period of stability for rates
  • RBA: Weakening China property markets a challenge in near term
  • RBA: Australian Dollar remains above estimates of its fundamental value
  • RBA: Recent data suggests moderate growth occuring
  • RBA: Inflation expected to be consistent with target over next 2 years
  • RBA: Labour market ahs degree of spare capacity, will be some time before jobless rate declines

Not very different from the last statement. The RBA keeps its neutral bias and continues to warn about the high $A. AUD/USD trading at 0.9295 currently.

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