Communication has been a problem for the RBA for a while, resulting in a loss of institutional reputation and replacement of former Governor Philip Lowe. But old habits are hard to break. While the RBA has a new Governor in Michele Bullock, the same issues continue to crop up time and again. The tone of the RBA’s October monetary policy minutes relative to the policy statement released two weeks earlier is yet another example of the bank’s communication challenges, presenting a far more hawkish assessment on the rates outlook which has caught markets off-guard. Here’s a snapshot from Refinitiv showing the hot ... (full story)