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GBP

Sterling Reversing Late Thursday Strength

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RBA
RBA: ***The RBA left its cash rate unchanged at 1.50%. The RBA did not introduce
any language surrounding the recent global trade tensions to its statement, and
noted that it is of the belief that "the rate of wage growth appears to have
troughed".
- The RBA noted that it expects the economy to grow at a faster rate than it did
in 2017 although it dropped the language specifying that it believes that
economic growth will 2be a little above 3.0% for the next couple of years."
- The RBA does expect further growth in exports.
- It left the language around the AUD unchanged.
- AUD moved to session highs in lieu of the decision, but has edged back from
best levels, the fixed income space has all but ignored the release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com