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16 Jun 2015
RBA meeting minutes remain a contrast to Governor’s speech – TDS
FXStreet (Barcelona) - The TD Securities Team reviews the June 2nd RBA Meeting minutes release and further shares the comments of Assistant Governor Kent on monetary policy.
Key Quotes
“The minutes from the June 2nd RBA Board meeting did not offer any forward guidance and is a contrast to the RBA Gov’s speech on Jun 10 suggested an easing bias remained on the table. There were plenty of headlines jawboning the AUD lower, deeming A$ depreciation as both likely and necessary.”
“There were no monetary policy implications from the RBA Assistant Gov Guy Debelle’s speech on Financial Integration in Asia.”
“Yesterday the RBA Assistant Gov (Economic) Christopher Kent spoke on Monetary policy transmission. In short the RBA believes monetary policy is working to support demand, but headwinds from a significant decline in mining investment, fiscal consolidation and an exchange rate that remains high help to explain the lower than expected growth of consumption.”
“Kent also referred to tightening of supply in the property market, underscoring the view the RBA expects property prices at least in Sydney to remain high.”
Key Quotes
“The minutes from the June 2nd RBA Board meeting did not offer any forward guidance and is a contrast to the RBA Gov’s speech on Jun 10 suggested an easing bias remained on the table. There were plenty of headlines jawboning the AUD lower, deeming A$ depreciation as both likely and necessary.”
“There were no monetary policy implications from the RBA Assistant Gov Guy Debelle’s speech on Financial Integration in Asia.”
“Yesterday the RBA Assistant Gov (Economic) Christopher Kent spoke on Monetary policy transmission. In short the RBA believes monetary policy is working to support demand, but headwinds from a significant decline in mining investment, fiscal consolidation and an exchange rate that remains high help to explain the lower than expected growth of consumption.”
“Kent also referred to tightening of supply in the property market, underscoring the view the RBA expects property prices at least in Sydney to remain high.”