RBA Minutes: No Near-term Move in Rates

The RBA Minutes are out and as expected there aren’t any real surprises. The AUD/USD hasn’t moved much as we would expect.

Some of the key points:

• No near-term move in rates is on the cards
• The weak AUD/USD is helping the economy
• Keeping rates steady is a source of confidence and stability
• Banking Royal Commission might lead to tighter lending
• The next move in interest rates is likely to be up

Nothing that we can really take away from this so it is business as usual for the AUD/USD I would think,