RBA minutes: what markets are looking out for - Westpac

We have the RBA minutes coming up today and analysts at Westpac suggest that the main focus will be the discussion on inflation.

Key Quotes:

"The main focus will be the discussion on inflation for any hint of just how worried the Board is about the impact of “very subdued growth in labour costs and very low cost pressures elsewhere in the world”."

Some elaboration on the somewhat surprising language on the job market would also be of note: “Labour market indicators have been more mixed of late.” The 3 May statement had little to say on AUD, simply that “the lower exchange rate overall has helped the traded sector” and that an appreciation would “complicate” economic adjustment. Further detail on this would also be worth noting."