The RBA policy announcement is due at 2.30pm Sydney time today, August 6, 2024:
0430 GMT, and 0030 US Eastern timeThe Bank is expected to leave its cash rate unchanged at 4.35%. The accompanying statement is expected to stick pretty much to the previous script, that the Bank remains alert to potential upside inflation risks.Released at the same time is the latest Statement on Monetary Policy (SoMP) – see below
Governor Bullock will hold her press conference an hour later.
Assistant Governor (Economic) Hunter speaks the next day.
I posted this screenshot yesterday:
—
The RBA’s Statement on Monetary Policy.
It outlines the bank’s views on domestic and international economic conditions.also provides an analysis of the bank’s policy decisions and an outlook for inflation and output growth.It typically includes:An overview of the global and domestic economic situation, which incorporates various factors such as growth, inflation, employment, and monetary and fiscal policies of key countries.Information about financial markets, which details changes in asset prices, exchange rates, and monetary policy settings worldwide.Domestic economic conditions, which provides a comprehensive analysis of key indicators including GDP, consumer spending, business investments, the labor market, and housing market.Forecasts for domestic economic activity and inflation, typically for a period of two years ahead. And an assessment of the balance of risks surrounding these forecasts.
This article was written by Eamonn Sheridan at www.forexlive.com.
