The RBA minutes confirmed rates aren't going up anytime soon, despite the justifiable noise created by Bill Evans change of tune. For mine, despite the market...

The RBA minutes confirmed rates aren't going up anytime soon, despite the justifiable noise created by Bill Evans change of tune. For mine, despite the market beating increases in GDP, retail sales and building approvals of late, they won't be enough to offset weak confidence, rising unemployment, wage growth below the rate of inflation, and declining credit card balances. Outside of Super - free savings/cash flow is largely non-existent for the average Australian which will hold back retail and employment Most important passage was; At recent meetings, the Board had judged that it was prudent to leave the cash rate unchanged, while noting that the cash rate could remain at its current level for some time if the economy was to evolve broadly as expected. Developments since the previous meeting had supported that assessment. They're definitely not hiking anytime soon, and cuts are still on the cards IMO more details here (VIEW LINK)