RBA’s Bullock: The change in wording today is deliberate

• It is to acknowledge that some of the data has been softer than we expected
• We wanted to convey that our opinions, views are evolving
• We are not saying what we might do but acknowledging that there is some softening
• We are not saying that we have won the battle against inflation
• But we are acknowledging that things are evolving as we think based on our forecast

On the headline comment, it’s alluding to the shift in the policy guidance passage as outlined here. Again, this is mainly to open up the discussion to potentially cut rates in the near future and not yet an outright shift towards cutting rates at the next step. AUD/USD remains pinned down by 0.7% at 0.6393 currently.

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