RBA Minutes: Labour market going in the right direction - Nomura

Analysts at Nomura note that the Reserve Bank of Australia still thinks that the labour market is going in the right direction --despite the total absence of serious wage growth-- and that the economy is doing reasonably well.

Key Quotes

“Aussie Treasurer Morrison, who doesn’t set interest rates of course, has just publicly stated that the RBA are unlikely to follow the US Fed in tightening policy. I agree: the RBA are far too late to this global party, and by the time they are finally ready to hit that rate-hike dance-floor and shake their OCR thang, everyone else will be leaving.”