RBA November meeting minutes - another response

Earlier:

• RBA Nov. minutes: Any further rise in $A would slow economy

And:

• RBA November meeting minutes - response
• RBA November meeting minutes response: no surprises but mood is more subdued

CBA response (in very brief):

• The RBA Minutes indicate the Board is comfortable with developments on the activrty side of the domestic economy.
• However the Minutes also suggest lingering uncertainty on the outlook for higher wages and inflation.
• As a result the Minutes imply that a rate rise looks some way off.
• Market pricing implies a 50% chance of an RBA cash rate increase over the next year.
• We expect the cash rate to stay on hold until late 2018 but with a risk to a later lift-of depending on the evolution of inflation and wages.

--

Later ....

• More still to come from the RBA - Governor Lowe to speak