Reserve Bank of Australia November meeting minutes. A couple of snippet previews:
Via Westpac:
- the RBA’s November meeting minutes will provide more colour around the Board’s 25bp rate hike decision, particularly the 25bp versus 50bp debate (if any?). However, the scope for fresh revelations is limited by what we have already seen since the last meeting, including speeches by Lowe and Bullock and the quarterly statement.
Via National Australia Bank:
- our economists reckon they may garner slightly more attention than usual to see whether they align with the RBA Deputy Governor Bullock’s Senate Estimates remarks of getting to the point where “maybe, there might be an opportunity to sit and wait and look a little bit”. On careful listen, the remark was in response to a Senator suggesting interest rate hikes were counterproductive, clarified with “we think interest rates probably have to go up a little bit further” and in that context are still consistent with a near-term string of 25bp increases.
- Another point of interest will be any commentary on whether the decision to hike by 25bps (rather than 50bps) was closely balanced.
