The RBA will stay firmly on hold for quite some time yet
Not much changes in the wording and certainly no fireworks as expected by the RBA. The aussie barely budged on the decision, and rightfully so because there really isn't anything to go on. This is about as non-event as you can get.
But what has changed in the RBA's statement this time around?
First up, there's the growth projection being added. The RBA highlights now that they see growth to average above 3% this year and in 2019. Previously, they just mentioned a "faster pace of growth in 2018".
This comes ahead of the SoMP which is due to be released on Friday along with the RBA's set of forecasts.
Besides that, they acknowledged the fact that the latest inflation reading here were within their expectations. But they continue to highlight that inflation will remain low for some time.
No key takeaways that I can see, as the RBA looks set to stay on hold until the end of the year still.
