The minutes of the RBA’s October 1 monetary policy board meeting are scheduled for release at 11.30am Sydney time today (0030GMT). The statement accompanying the most recent decision (no change to rates) was perceived by the marekt as tending away from the RBA’s easing bias, and being more neutral. The minutes will be read closely to confirm whether the RBA has dropped their easing bias.
- Any reduction in the easing bias should be supportive of the AUD.
- Current OIS pricing has the probability of a 25 basis point November cut (November 5 is the next scheduled meeting) at just 11%
