Tag Archives: RBA statement
Is the RBA really neutral?
A funny thing happened yesterday. It was not the RBA dropping their easing bias — which was fairly obvious given the Q4’13 inflation surprise — but the way the market traded on the news. To see why this was odd, … Continue reading
RBA sees policy gaining traction
The October RBA Statement had only a few changes from their September statement. Overall, my assessment is that there is one big change, and that is to the financial conditions paragraph. The addition of a line that savers are taking … Continue reading
Scope-less RBA?
The RBA set the cat amongst the pigeons yesterday, by dropping the ‘scope to ease’ section from their concluding paragraph. It now reads: At today’s meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will … Continue reading
FX not a barrier to further RBA rate cuts
The June RBA Statement was basically a return to the situation prior to the surprise cut in May (with fewer words). The bottom line remains that the RBA could cut their policy rate at any meeting — because things must … Continue reading
RBA moves to 2.75% — on supply?
I hate being wrong, and I was wrong in size today — missing the RBA’s 13th rate cut since 2002. This move took the RBA’s target for the overnight cash rate down 25bps to 2.75%; it is now -200bps since … Continue reading
April RBA statement: the cut and paster
The April RBA decision was another pause at 3% (last move -25bps to 3% in Dec’12). This was well anticipated by both markets and economists — markets had it priced 96% by the 2.30pm announcement and none of the economists … Continue reading
