No lasting reaction in the AUD crosses.......>

AUSSIE: No lasting reaction in the AUD crosses post-RBA, with limited to no

initial reaction, as the Bank left rates unchanged as was universally expected.

- The decision which saw the Bank modestly upgrade its GDP growth forecast for

'18 & '19, while it trimmed its longer run unemp projection to 4.75% following

the latest labour mkt report.

- The fact that the first and final paragraphs in the statement remained

unchanged is the key, the uptick in GDP estimates & lower unemployment forecast

are seemingly negated by the CPI/wage outlook, with inflation to "be a bit

higher" than 2.25% in 2020 (most recent SoMP has it earmarked at 2.25%, could be

deemed hawkish but the fact that it refers to a "bit" shows any tweaks in

Friday's are likely to be gradual), and wage growth still seen as gradual.

- AUD/USD $0.7210 last, after a modest & ltd blip higher on the language re:

growth and unemployment.