RBA’s next move on rates

Decision delayed: Australia’s failure to make a decisive political choice coupled with ongoing Brexit fallout point to the RBA waiting a month to assess the implications before resuming interest-rate cuts. – Bloomberg

SYDNEY: For the next move on Australian interest rates, it all comes down to the quarterly inflation report on July 27.

Governor Glenn Stevens concluded his policy statement yesterday saying “further information should allow the board to refine its assessment of the outlook for growth and inflation, and to make any adjustment to the stance of policy that may be appropriate.” Most economists interpreted that as meaning the second-quarter consumer-price index is key.