Reserve Bank of Australia November meeting minutes due today:
0030 GMT1930 US Eastern time
I characterised the statement from the meeting as hawkish:
AUD little changed after hawkish RBAReserve Bank of Australia leaves cash rate unchanged at 4.35%, as expected
After the statement Governor Bullock spoke:
RBA governor Bullock: Rates need to stay restrictive for the time beingRBA governor Bullock: Current market pricing on cash rate is as good as any
Bullock spoke again last week:
RBA Bullock says rates are restrictive enough, staying there until confident on inflation
The Bank appears to be on hold until the second or third quarter of 2025, but Goldman Sachs differs:
Goldman Sachs lower its forecast for Australia’s economic growth in 2025 on Trump vs China … Goldman Sachs forecasts a 25bp Reserve Bank of Australia rate cut in February 2025
Eyes and ears open for the minutes today, lets see if there are further clues on the rate cut path ahead:
This article was written by Eamonn Sheridan at www.forexlive.com.
