RBA statement less dovish than the market expectations - BBH

Research Team at BBH, notes that in the Reserve Bank of Australia meeting, there was no change in rates, as widely anticipated, but the statement was considerably less dovish than the market is expected.

Key Quotes

“This sent the Australian dollar up a little more than 1% to lead the majors. The Aussie was bid through $0.7400 to $0.7450. The next retracement is found near $0.7500. The RBA's assessment that the current cash rate may be sufficient for CPI to return to target effective dashes ideas for a follow-up rate cut after the April move.”

Jun 7, 2016

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