RBA: No fireworks offered - TDS

The RBA left the cash rate at 1.5% as widely expected, notes the research team at TD Securities.

Key Quotes

“There was the usual comment that the AUD within the range of recent years (not at the bottom), perky growth where "In the first half of 2018, the economy is estimated to have grown at an above-trend rate". Glossing over funding stress again with "Some lenders have increased mortgage rates by small amounts, although the average mortgage rate paid is lower than a year ago" They said this last month when it was just the minnows, and there was no shout out that last week one of the majors joined in. AUD perkier on a lack of jawboning.”