2 Sep 2013
Flash: RBA to stay on hold Sept 3 - Westpac
FXstreet.com (Barcelona) - Australian Central Bank - RBA - will announce its next rate decision on Sept 3, with the market barely pricing a 4% the chances of a rate cut this month.
Key Quotes from Westpac
"Following its 25bp rate cut in August, the RBA has been unusually explicit about prospects for an immediate followup move with the minutes to the August meeting including the line: “Regarding the communication of this decision, members agreed that the Bank should neither close off the possibility of reducing ratesfurther, nor signal an imminent intention to reduce rates further.” That clearly makes a September move unlikely but the wording also leaves the door open for further easing if required."
Key Quotes from Westpac
"Following its 25bp rate cut in August, the RBA has been unusually explicit about prospects for an immediate followup move with the minutes to the August meeting including the line: “Regarding the communication of this decision, members agreed that the Bank should neither close off the possibility of reducing ratesfurther, nor signal an imminent intention to reduce rates further.” That clearly makes a September move unlikely but the wording also leaves the door open for further easing if required."