RBA board meeting unlikely to provide many surprises – RBC CM

Research Team at RBC Capital Markets, suggests that Dr. Lowe’s first board meeting as Governor is unlikely to provide many surprises tomorrow.

Key Quotes

“A refreshed statement on the conduct of monetary policy suggests at the margin more tolerance for a near-term CPI undershoot, but there is still some risk the post-meeting statement seeks to put an emphasis on Q3 CPI data all the same (due 26 October). Other than this, the macro backdrop is little different to the one which prevailed at its last full quarterly forecast update in August, which points to limited fireworks at the October meeting.”