VIEWS: Bank desk view on the RBA meeting........>

RBA: VIEWS: Bank desk view on the RBA meeting minutes due later today:

- NAB: The Statement did not gel with some of the pondering that the RBA might

have become more defensive about the econ given continued chatter about the

headwinds facing the housing mkt. The full Minutes will allow for a deeper look

into the RBA's thinking about how such risks are unfolding as well as the

outlook more broadly at home & abroad. The markets do seem to be overly-focused

on housing at present, at the expense of looking at the positive developments

occurring in Mining, Infrastructure and Defence, to name just a few. Also the

market should be just as interested in RBA views and the outlook for the economy

in the light of the June quarter national accounts (released after meeting).

- RBC: Following yet another steady rate decision, the minutes will likely cover

a number of familiar themes - a return to above trend growth, full employment

and eventually lift higher in core inflation.

- TD: Look out for discussion about Westpac's SVR hike and whether the next move

remains up for the cash rate. They were right that the economy grew at an

above-trend pace in H1 although they did not have that data for the meeting.