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The RBA published the minutes of its 5 May 2020 monetary policy meeting, held by videoconference. Members discussed a deep global contraction from COVID-19 lockdowns in the first half of 2020, with recovery expected in the second half supported by fiscal and monetary stimulus.
Members noted that renewed virus outbreaks could still weigh on household and business spending.
The minutes describe a weak global demand outlook that could reduce demand for feed and livestock products. No specific commodity price move is attributed in the text.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaMay 5, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
