VIEW: Westpac notes that "the minutes confirm...>

RBA: VIEW: Westpac notes that "the minutes confirm that the Board is prepared to

move and probably expects to move again but prefers to wait a while to assess

the impact of the first two cuts. Our forecasts for growth, inflation and the

unemployment rate clearly point to the need for further stimulus, and we expect

that the November meeting will provide that timing. However we do recognise that

while growth and inflation remain key policy objectives, the labour market has

the most immediate priority. With updates to conditions in the labour market

being provided on a monthly basis, prospects for the next move being as early as

September or October cannot be dismissed."