- Recent cut moved policy closer to neutral while maintaining a balanced approach
- Decline in net immigration a major factor preventing a more significant rise in unemployment
- Trends across several data series suggest job market softening
This is certainly more-dovish than Logan who just spoke, particularly the headline comment. The market is pricing in 104 bps of easing in the next 12 months.
This article was written by Adam Button at investinglive.com.
