RBA’s Bullock: We did not consider the case for a rate cut today

• But would not say that the case for a rate hike is increasing
• Very conscious that high rates are hurting some sectors of the country
• Inflation is also hurting the people, so we are focused on bringing it down
• Use of the word ‘vigilant’ does not mean a rate hike is coming

Her remarks reads a lot like a “yes but no, but then yes” kind of script. But I guess it fits with their stance of not ruling anything in or out at this stage, so yeah. AUD/USD is up 0.2% to 0.6623 currently, just slightly higher from around 0.6608 before the RBA earlier today.

This article was written by Justin Low at www.forexlive.com.