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21 May 2013
Flash: RBA minutes might not draw much reaction - NAB
FXstreet.com (Barcelona) - The RBA releases its May Board minutes today at 1.30GMT, when a surprising decision to cut rates to record lows was taken. This is a relevant event for AUD traders as it provides clues about the economy and outlook.
However, according to NAB, it may turn out to be a bit decaffeinated after all, "given the subsequent release of their growth and inflation forecasts in their quarterly Statement the Friday before last, thus this one might not draw much reaction" the bank said.
Nevertheless, NAB "will be looking for any hints as to whether June might potentially see another cut" they said, adding that "next week’s May 30 CapEx Q1 data will be key in the lead up to the June RBA Board meeting."
However, according to NAB, it may turn out to be a bit decaffeinated after all, "given the subsequent release of their growth and inflation forecasts in their quarterly Statement the Friday before last, thus this one might not draw much reaction" the bank said.
Nevertheless, NAB "will be looking for any hints as to whether June might potentially see another cut" they said, adding that "next week’s May 30 CapEx Q1 data will be key in the lead up to the June RBA Board meeting."