RBA: bullish but on hold for time being? - UOB

Analysts at UOB Group explained that the minutes of the RBA’s July meeting highlighted growing divergences in the domestic economy at its most recent policy meeting.

Key Quotes:

"But, the minutes said the outlook for the second quarter remained generally positive following a slow start to the year."

"Recent economic data indicate that the June quarter “had been generally positive” amid rebounding consumption growth."

"However, this segment of the economy remained generally subdued given the record level of household debt bearing down on consumers."

"The RBA’s next meeting is scheduled for 1 August. No change in policy is expected."