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

Posted in AUD, monetary policy, RBA | Tagged | 20 Comments

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

Posted in AUD, monetary policy, RBA | Tagged | 12 Comments

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

Posted in AUD, monetary policy, RBA | Tagged | 16 Comments

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

Posted in AUD, monetary policy, RBA | Tagged | 24 Comments

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

Posted in AUD, economics, monetary policy, RBA | Tagged | 6 Comments

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

Posted in AUD, monetary policy, RBA | Tagged | 7 Comments