- Unpredictability of tariffs means need patience to assess impact on demand, supply
- There will be a period of uncertainty, adjustment as countries respond to US tariffs
- Our focus remains on dual mandate for price stability and full employment
- Not seeing the same degree of impact as previous market events like in 2008
- Closely monitoring exchange rate, response of our trading partners to the US
She's not giving much away but amid the pressure from a trade escalation between US and China, markets are expecting Australia to also be caught in the crossfire. As things stand, traders are fully pricing in a rate cut for the next meeting on 20 May.
