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(U2) Gains Considered Corrective


(U2) Bearish Outlook


(U2) Trend Needle Still Points South


(U2) Downtrend Intact

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RBA: Bank desk views on the RBA Nov meeting minutes:
- Barclays: The board minutes are likely to be positive on the growth trajectory
given recent increase in RBA's growth forecasts; comments on unemployment rate
downgrade will be keenly watched.
- RBC: We expect the latest set of minutes to deliver an upbeat tone consistent
with the RBA's upward revisions to GDP, inflation and downward revisions to the
unemployment rate in the quarterly statement released soon after the November
board meeting. Key domestic data since the board met have been decent with
another stellar employment report and some lift in annual wages growth. This
suite of labour market indicators remains key to the RBA policy debate and will
likely lift their confidence in achieving a return to within target inflation.
- TD: The Minutes for the RBA November Board meeting is unlikely to make ripples
in the market given 6 Nov policy statement was more than fleshed out in the
subsequent Statement on Monetary Policy.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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