3 Sep 2013
Flash: RBA may lack policy clues, could be AUD supportive - NAB
FXstreet.com (Barcelona) - NAB Economists look for a no change in monetary policy by the RBA at 2.30GMT, yet they still support more cuts in coming months.
Key Quotes
"Partials released yesterday on GDP suggest the RBA’s 2½% y/y Q2 forecast might be a little high, based on our reading. The Board will obviously be briefed on the staff’s latest figuring heading into tomorrow’s number."
"As for the policy outlook in today’s Media Release, we wouldn’t be surprised if the final policy paragraph has little in the way of forward policy clues that if anything would be AUD-supportive."
"Absence of a policy bias leaning last month did not signify they’d shifted their bias to neutral. While there was none in the Media Release, there was in the quarterly statement, when they said the inflation outlook still afforded them scope to ease further, if needed."
Key Quotes
"Partials released yesterday on GDP suggest the RBA’s 2½% y/y Q2 forecast might be a little high, based on our reading. The Board will obviously be briefed on the staff’s latest figuring heading into tomorrow’s number."
"As for the policy outlook in today’s Media Release, we wouldn’t be surprised if the final policy paragraph has little in the way of forward policy clues that if anything would be AUD-supportive."
"Absence of a policy bias leaning last month did not signify they’d shifted their bias to neutral. While there was none in the Media Release, there was in the quarterly statement, when they said the inflation outlook still afforded them scope to ease further, if needed."