RBA: Cash rate was not touched - BBH

Analysts at BBH note that the RBA did meet earlier, and as widely anticipated, the cash rate was not touched (1.5%).  

Key Quotes

“New forecasts will be published at the end of the week.  The focus was on Governor Lowe's comments about the currency.  He warned that a continued rise in the Australian dollar would depress prices and limit growth and employment.  The Australian dollar has appreciated nearly 11% against the dollar this year, though, on a trade-weighted basis, it has appreciated less than half as much.  The Aussie is consolidating its surge around the middle of July that carried it to about $0.8065 last week.  It is struggling to hold above $0.8000.”