RBA Meeting Minutes: watch for hawkish comments

Jarratt Davis

Special Consultant to the FPA
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The first event of the week will be the RBA’s Monetary Policy Meeting Minutes tomorrow. These Minutes relate to the RBA’s May 1st policy decision where they kept rates unchanged at 1.50%.

According to Commonwealth bank chief economist Blythe the next RBA move will be a hike. However, the RBA will first need to see a fall in unemployment and confirmation of higher prices.

As the RBA hold a neutral stance, it’s unlikely there will be anything surprising from the Minutes. However, any new comments which do provide a clear bias could present an opportunity.

Any comments which result in an overall hawkish tone from the RBA could see AUD strengthen. While any comments which result in an overall bearish tone could see AUD weaken.
 
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