- Did not explicitly consider case for a rate hike this meeting
- Discussed circumstances in which we might have to tighten
- Did discuss what they might have to do if rates need to go up
- Need to be cautious on monthly CPI series as yet
- Inflation and jobs data will be important for February meeting
- Would not put timing on any future move, will be meeting by meeting
- We will be looking at quarterly inflation numbers
- If inflation looks to be persistent, it will raise some questions for policy
The February meeting is the next one as the RBA goes on summer holiday. Needless to say the upcoming data will be critical.
AUD/USD jumped on her comments.
This article was written by Adam Button at investinglive.com.
