The June monthly minutes from the RBA will be released at 11.30am AEST today and after the RBA lowered the official cash rate to 2% on the first Tuesday of the month traders will be eager to see beyond the final comments made in the statement which read. “At today's meeting, the Board judged that the inflation outlook provided the opportunity for monetary policy to be eased further, so as to reinforce recent encouraging trends in household demand.”
These final comments gave us an insight into what the RBA was thinking and that was rates may go even lower if the economic data supports it. The minutes released today will simply give us a better look at what was specifically discussed at the RBA meeting earlier this month and if there is any indication on when the next rate cut may be.
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