Yesterday the Reserve Bank of Australia cut rates
The cash rate went from 2.25% to 2%
News is here, with the link to accompanying statement etc.
There seems to be a lot of chatter about that the RBA no longer has an easing bias and that's why the AUD is up. Hmmmm.
Maybe we need some plain talk.
Yes, they are on hold for now and for the coming months.
They will assess the data over coming months.
The RBA will cut again if they think the economy needs it.
We will get a more comprehensive look at how the RBA sees the economy and how they are thinking on policy on Friday. For on Friday we'll get the "Statement on Monetary Policy"
The Statement is issued four times a year. It sets out the Bank's assessment of current economic conditions, both domestic and international, along with the outlook for Australian inflation and output growth.
It is a MUCH more comprehensive document that the accompanying statement yesterday.
