RBA removes headline inflation forecast of 1.75% in latest statement
Comparing the RBA's statements: October (left) vs September (right)
The most notable item for me was the dropping of the inflation forecast but essentially it means little in the grand scheme of things. It could be they are less confident of it staying around the forecast level or maybe they're more confident that it'll hold above. But really, this is very much getting a bit nit-picky at this point.
In short, the RBA stays on hold and there isn't really any new details here that warrants a shift in the Australian dollar rhetoric.
Also of note, the RBA is seeing the rise in mortgage rates as a minor issue - describing it as lenders raising those rates by "small amounts". But yeah, there isn't anything else that really changes the overall picture here as the two key sticking points remain unchanged: household consumption and wage growth.
