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20 May 2014
RBA minutes to reiterate same old lines - Westpac
FXStreet (Bali) - The minutes from the RBA Board’s 6 May meeting are due at 1.30 GMT, with Sean Callow, FX Strategist at Westpac, expecting a reiteration of the familiar line “the most prudent course is likely to be a period of stability in interest rates.”
Key Quotes
"The rise in AUD in recent months should be seen as a negative for growth in years to come, already confirmed in the 9 May quarterly statement. Logic argues for absolutely nothing new to move markets in these minutes. We will also hear from RBA’s Debelle at 12:45pm Syd/10:45am Sing/HK plus a lunchtime speech on the budget by Treasury Secretary Parkinson."
Key Quotes
"The rise in AUD in recent months should be seen as a negative for growth in years to come, already confirmed in the 9 May quarterly statement. Logic argues for absolutely nothing new to move markets in these minutes. We will also hear from RBA’s Debelle at 12:45pm Syd/10:45am Sing/HK plus a lunchtime speech on the budget by Treasury Secretary Parkinson."