Wednesday, October 28, 2015

RBA to hold rates in Nov, despite weak Aus CPI - Westpac

FXStreet (Bali) - Bill Evans, Westpac Chief Economist, notes that despite today's weak Australian Q3 CPI, expects the board will decide to keep rates on hold in November.

Key Quotes

"The surprise drop in the inflation measure is not unique and, in the past, the Bank has looked through a one off number."

"The motivation for cutting next week would be a significant downward revision to the growth outlook."

"The data flow and the RBA's recent commentary does not point to such an event."
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