RBA coming up and an on-hold bias – RBS

FXStreet (Guatemala) – Analysts at RBS noted the forthcoming RBA today and conditions leading into the rate decision.

Key Quotes:

“While the RBA is likely disappointed with the latest private cap-ex figures which showed a second consecutive 4+% decline in expenditures, we expect the RBA to leave the cash rate on hold.”

“RBA assistant Governor Kent noted the jobless rate appears to be stabilizing and the RBA has maintained a fairly positive outlook for the labour market, but the risks to the statement may be on the dovish side as the RBA acknowledges the potential real economic impacts of China on growth and investment. The RBA’s decision comes one day before second quarter GDP growth.”

Analysts at RBS noted the forthcoming RBA today and conditions leading into the rate decision.

(Market News Provided by FXstreet)