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AUD Lower, Bond Futures Post RBA Decision

RBA

The AUD is weaker post the unchanged RBA decision. From above 0.6600 we have dipped towards 0.6580 before stabilizing somewhat (last near 0.6580/85). OIS is 5bps softer, while futures are 4-5bps richer.

  • The statement didn't change in terms of the final paragraph, but the market may be focused on comments from the central bank around Oct monthly CPI suggesting inflation is moderating (although the RBA noted it didn't update services inflation).
  • The other headline was around wages growth not expecting to increase much further, albeit with the labor market expected to remain tight. More details to follow.

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