No Meaningful Fresh Information In RBA Meeting Minutes

There is a lack of meaningful fresh information in the initial news wire headlines covering the RBA meeting minutes from the Bank’s September decision, with the minutes reiterating the idea that “all else equal, members saw the case for a slower pace of increase in interest rates as becoming stronger as the level of the cash rate rises,” alongside the Bank’s data-dependent stance as interest rates “getting closer to normal settings.” YM & XM hover around pre-release levels. 43bp of tightening is priced into RBA dated OIS covering the Bank’s October meeting as of typing, a little shy of session highs, but essentially little changed on the day.