AUS 10-Year Yield Steady After RBA Minutes

Australia’s 10-year government bond yield hovered around 4.30%, as investors digested minutes from the recent RBA policy meeting. The minutes showed the central bank saw a strong case for a 25 bps cut in August and judged that further easing may be needed over the coming year. Policymakers noted inflation is moving toward the 2–3% target midpoint and said preserving full employment while keeping inflation low could require more cuts. The board weighed a gradual approach against the risk of weaker growth or softer inflation, stressing that the pace of easing would be guided by incoming data on a meeting-by-meeting basis. Markets expect the bank to hold in September before easing again in November, with rates projected to fall toward 3.10% or as low as 2.85%. Attention now turns to the upcoming monthly CPI report later this week, expected to show faster inflation and reinforce views of a brief policy pause before further easing.