Daily digest market movers: Australian Dollar slips after RBA minutes
- Regarding the RBA minutes, during the September 24 meeting, the RBA kept the cash rate target steady at 4.35% and maintained its neutral stance.
- However, the minutes revealed a more dovish tone as the central bank removed the August meeting's statement that "a reduction in the cash rate target was unlikely in the near term."
- Notably, RBA Deputy Governor Hauser dismissed the characterization of the minutes as dovish, emphasizing that the task of reducing inflation is "not finished yet."
- Markets currently place around 50% odds on a 25 bp rate cut by December.
- On the Fed’s side, markets eased on the aggressive dovish bets and provided some relief to the Greenback.
- This week’s Consumer Price Index (CPI) reading will be important.
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