The Reserve Bank of Australia remained on hold at its meeting on Tuesday:
- RBA leaves the cash rate unchanged at 4.10%
- The full statement of the September RBA monetary policy meeting decision
Of Australia’s four big banks ANZ, CBA and Westpac have forecast no further cash rate rises from the Reserve Bank of Australia. National Australia Bank, however, is still tipping one more, at the November meeting (the RBA meet next on October 3 then on November 7).
Via NAB, in brief:
- economic “risks are still tilted to the upside”
- RBA is “very data dependent”
- RBA remains committed to tightening further if required
and that if the data suggests it the RBA “may have to do a little more tweaking” , as soon as October but NAB expect November is more likely.
- “We remain concerned about services inflation printing strongly in August”
The November meeting is the first that’ll follow Q3 inflation data to be published in Australia on October 25.
From the Reserve Bank of Australia website, front page.
This article was written by Eamonn Sheridan at www.forexlive.com. Source