RBA August 2018 Interest rate decision on 07.08.2018

  • GDP growth to average a bit above 3%
  • progress on inflation and unemployment to be gradual
  • Headline inflation expected to remain lower than earlier expected in 2018
  • Inflation expected to be higher in 2019/2020
  • Low rates supporting economy
  • latest inflation data in line with expectation
  • Rate of wage growth appear to have troughed
  • Wage growth remains low, expected to continue for a while
  • AUD remains in a range past couple of years
  • Business conditions are positive
  • Household consumption a source of uncertainty

The statement 

AUD pretty much flat in the high 0.73s. Low inflation is a global concern, not only Australia’s . Neutral report, not to dovish, continue to hold small EURAUD short as long ass we’re below 1.5660.


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