Bill Evans, analyst at Westpac, suggests that the RBA’s forecasts within the August Statement on financial Policy area unit beat for wages employment and inflation despite factorization in 50bps of cuts within the money rate.
Key Quotes
“As such, 2 moves look assured, in line with Westpac’s forecast for cuts in Oct and Gregorian calendar month. However, if world conditions deteriorate more, additional input is probably going to be needed.”
“The minutes of the bank committee meeting for August provided one important surprise.”
“In the Governor’s call statement following the meeting on August 6, the conclusion enclosed “the Board would still monitor developments within the labour market closely and change financial policy if required to support property growth within the economy and therefore the accomplishment of the inflation target over time”. That statement was perennial virtually verbatim within the Statement on financial Policy on August nine.”
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