Expectations are not high for the Reserve Bank of Australia minutes.
But, they are of interest.
ANZ:
- looking for clues as to the timing of the next rate cut given the dovish tone in the post-meeting statement
NAB:
- minutes …. likely maintaining the dovish tone adopted in the post-meeting press release which emphasised the goal of full employment
ASB/CBA:
- (RBA) cut the cash rate to a record low of 0.75% in October. The Governor's accompanying statement was dovish and reiterated the Bank's easing bias.
- The stated aim of "full employment" rather than simply "reducing unemployment" (as was the case in the September Statement) is a more ambitious aim.
- Overall, the October Minutes will be dovish and will confirm the Bank's willingness to lower the cash rate if needed.
