RBA close to cutting rates, but more likely in November: WestPac

Analysis of the latest RBA minutes by WestPac says that the RBA is very close to cutting rates, with the term “scope to adjust policy” being very important, but any cuts are more likely to come in November rather than October.

The market is now pricing in a 50% chance of a rate cut in October.

AUD/USD is trading near the middle of its session range at 1.0465.

In other words, indecision abounds!