15 Oct 2013
Flash: RBA sitting comfortably on hold - NAB
FXstreet.com (Barcelona) - AUD traders await the release of the October RBA Minutes, which is expected to show the RBA sitting comfortably on hold, according to NAB Economists, in line with Westpac's thoughts published earlier.
Key Quotes
"The September Minutes showed the RBA reluctant to cut again. The subsequent improvements in business and consumer confidence, and the gains in house prices, would have been welcomed."
"Still, in coming months our NAB colleagues anticipate further deterioration in growth momentum and the labour market will necessitate a further RBA cut. The market currently prices only a 40% chance of this outcome."
Key Quotes
"The September Minutes showed the RBA reluctant to cut again. The subsequent improvements in business and consumer confidence, and the gains in house prices, would have been welcomed."
"Still, in coming months our NAB colleagues anticipate further deterioration in growth momentum and the labour market will necessitate a further RBA cut. The market currently prices only a 40% chance of this outcome."