RBA Tracker
Uncertain, unpredictable...dovish
The RBA Board lowered the cash rate by 25bps to 3.85% today as widely expected.
We expected the Board/Governor to emphasise caution about the path ahead. We also anticipated small downgrades to the Bank’s central forecasts but an emphasis on risks and scenarios given heightened uncertainty around tariffs and trade policies.
Tick.
But central bankers like to say that they are paid to worry.
The Governor’s comments in the press conference and the tone of the Board’s statement and the Statement on Monetary Policy were dovish, including:
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