The OIS market is pricing the probability of a 25 basis point (0.25%) at the upcoming December 3 meeting at just 8%.
Even that sounds high to me.
Anyways, we’ve just had the release of the minutes of the November meeting – headline points are here. Preview from this morning prior to the release is here, and the preview (from yesterday) is here.
The news services are out with their ‘recaps’ of the decision:
Reuters: Australia central bank says stimulus working, won’t rule out more
Bloomberg: RBA Saw Signs Low Rates Working as It Keeps Cut Option
MNI: RBA Says Low Rate Effect Evident, But Easing Possibility Open
