Australia: Q2 GDP growth was 3.3% y/y - BBH

Research Team at BBH, notes that the Australia reported Q2 GDP which showed that the growth was 3.3% y/y, as expected and up from a revised 3.0% (was 3.1%) in Q1. 

Key Quotes

“The RBA just left the cash rate at the record low 1.5%.  Next month's Q3 inflation report is seen as an important factor for monetary policy in Q4.  The central bank does not appear to be in a hurry to cut rates again this year, but could be forced to by circumstances and data.”