RBA No Hurry To Cut Rates

RBA No Hurry To Cut Rates

From Dow Jones:

In its monetary policy statement the RBA makes the smallest possible concession to the bears on Australia’s economy by noting the correction in commodities prices but overall the central bank is still firmly upbeat, says Macquarie Economist Brian Redican.

“They certainly are not about to pull the trigger for lower interest rates,”

he adds. He notes that the language from the central bank has changed little in recent weeks, especially regarding the AUD where it stuck to recent remarks on the unit staying high despite the lower terms of trade.