On Tuesday the RBA will release the minutes of their first meeting of the year. We know from their recent statement that they still deem inflation as “too high”, and that “a further increase in interest rates cannot be ruled out”. So if the minutes are to serve any real purpose, it is to help us decipher how real the threat of another hike may be. The December minutes cited upside risks to wage growth, but we’ll need to wait until Wednesday’s wage price index to see if wage pressures persist. And what might take the sting out of the minutes tail is that they will not capture the RBA’s thoughts on the latest ... (full story)