Barclays On Today's............>

AUSTRALIA DATA REACT: Barclays On Today's Statement From The RBA!

"The RBA continues to expect economic growth to improve over the forecast

horizon, but has tempered its growth path in the near term."

- "We believe the RBA will be closely monitoring the developments in the labour

market, and next week's wage price index data release should help gauge the

RBA's policy reaction in coming months."

- "Overall, we think today's forecast changes broadly eliminate any risks of an

earlier rate adjustment from the RBA, in H1 18. We do not sense that the Q3

wages and GDP data over the next month will significantly shift the RBA's

assessment of the economy, and in terms of monetary policy, we expect the RBA to

stay in a holding pattern in H1 18 and wait for signs of a more broad-based

recovery across businesses and in household incomes before firmly signalling any

change in policy stance. We maintain our forecast that the RBA will raise the

policy rate 25bp at the August 2018 MPC meeting, followed by a 25bp rate hike in

November."