Reaction to the overnight RBA release........>

AUSSIE: Reaction to the overnight RBA release.

Barclays - Overall, today's policy decision remains in sync with RBA's recent

narrative of being in a holding pattern until it sees a material shift in data

in either direction. The recent economic data remain mixed, with inflation low

and economic growth modest. The recent improvement in the PMIs and the increase

in global demand is a positive for the 2018 outlook, but in terms of monetary

policy, "we expect the RBA to remain on hold through H1 18 and wait for signs of

a more broad-based recovery across businesses and in household incomes before

firmly signalling any change in its policy stance." "We expect the RBA to stay

on hold until H2 18 and raise the policy rate 25bp at the August 2018 Reserve

Bank Board meeting followed by a 25bp rate hike at the November meeting."