No more rate cuts on the horizon

The minutes from the RBA's last board meeting released today suggest that unless something economically serious happens the 125bps worth of cuts since last November will be all for now.

That little upward blip in the value of the Australian dollar today would appear a signal that the markets, having digested the minutes of this month’s Reserve Bank board meeting, aren’t expecting another official rate cut in the near future.

It is apparent from the minutes that the RBA’s board members are comfortable with the current official rate settings while awaiting some shift in economic settings either at home or abroad.

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