RBA in no rush to hike rates – UOB

Researchers at UOB Group assessed the recent steady stance from the RBA at yesterday’s meeting.

Key Quotes

“There were no real surprises, and the one-page statement was pretty neutral”.

“Taking into account subdued inflation, slow growth in wages and the high levels of household debt which are likely to constrain growth in household spending; we continue to believe that the RBA is in no hurry to raise rates”.

“Please note that the updated forecasts for Australian economic growth, inflation and unemployment will be released by the RBA in its quarterly Statement on Monetary Policy (SoMP) this Friday (10 November)”.