RBA: No fireworks offered – TDS

Analysts at TDS point out that the RBA left the cash rate unchanged at 1.5% as unanimously expected with not much for markets. 

Key Quotes

“Comparing the statement with July, there were additional comments on the outlook as expected, given the board saw a draft of the Bank's GDP and CPI forecasts.  The Bank has been concerned about 'low' consumption for some time, but overall GDP is expected to be around 3% while inflation is expected to gently rise.  Overall, besides re-written language and re-arranged sentences, not much for the markets.”