According to analysts at TD Securities, tomorrow’s RBA Minutes for the April Board meeting will be closely scrutinised for any clarification around the addition of a line at the end of the policy statement.
“The addition of “The Board will continue to monitor developments and set monetary policy to support sustainable growth in the economy and achieve the inflation target over time.” was widely interpreted as the RBA sending an easing signal at the May Board meeting. With an election and fiscal boost around the corner we see a May cut as highly unlikely.”
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