Analysts at TD Securities (TDS) expect the Reserve Bank of Australia (RBA) is unlikely to hike interest rates further, though still see the possibilit
y of an insurance hike in November. Earlier this Tuesday, the Australian central bank decided to stick to the wait-and-see stance and left its benchmark interest rate unchanged for the third straight month.“The RBA kept the cash rate on hold at 4.10% as was widely anticipated by the analyst and trading community. Of more interest for markets was the tone of the Bank's commentary, in particular the last paragraph. As we expected, the Bank reiterated its conditional tightening bias.
“Our read is the RBA will continue to assess the outlook for the cash rate meeting by meeting, but we don't see the RBA in a rush to hike. We retain our call for no further If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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