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The RBA published the minutes of its November 1 Monetary Policy Meeting, which discussed how outcomes compared with earlier forecasts. Board members noted that commodity prices and the terms of trade had fallen more than expected, and that the Australian dollar's depreciation had helped the economy adjust.
Wage growth was described as lower than historically implied.
The minutes show the central bank remains focused on a weak currency that supports Australian exports. This bias suggests limited near-term upward pressure on the Aussie dollar.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaNov 1, 2016Not 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.
