Reserve Bank Releases Minutes Informing Rate Outlook

The Reserve Bank will publish minutes from its early-February meeting on Tuesday, explaining why it unanimously raised the cash rate by 25 basis points to 3.85 percent. Upcoming Australian Bureau of Statistics releases — quarterly wage data on Wednesday (NAB forecasts 3.4% year-on-year, 0.8% quarter) and January labour figures on Thursday (unemployment likely to tick to 4.2% with about 20,000 job losses) — will help shape whether further rate increases are considered.