RBA keeping faith about growth pick up – TD Securities
According to TD Securities analysis team, this month's RBA Statement reads as pretty much a copy of last month's statement.
Key Quotes
“For now the RBA is keeping the faith that growth is expected to pick up, which is what they said last month and they repeated that domestic consumption outlook remains uncertain, which we will only get some more clarity on when GDP is published tomorrow.”
“As such, the RBA kept room to ease monetary policy further 'if needed'. While the RBA is in no perceived rush to cut given commentary from RBA Gov ("gentle turning point) and Assistant Gov Kent stating that financial conditions should ease, the mkt will look to tomorrow's read on private consumption in GDP to validate and confirm the RBA's view.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
