Australia – Could there be a shock decision from the RBA today?

This is going to be a big day in Australia … this caught my eye immediately …

Forget the last 10 months of Australian jobs data

• The Australian Bureau of Statistics will revise all its labor force estimates for the 10 months from Dec 2013 to Sept 2014 on Tuesday at 0030 GMT, officials announced today.

Following this revision the get the RBA announcement at 0330GMT.

It might be worth running through a few “What ifs?”.

The one that occurs to me is what if the jobs data is revised significantly lower?

The RBA may well have the revised figures, or at at least a reasonable indication of what the revisions will be and if the data indicate jobs growth has been worse than expected, does that have an implication for the RBA meeting today? Could there be a surprise rate cut? Make note, though, I want to see the revised figures from the Australian Bureau of Statistics before putting a probability on this occurrence … hey, who knows, maybe the jobs data will be revised higher? We’ll see the Australian Bureau of Statistics revision at 0030GMT.