The calendar is vacant except at 0130 GMT when the RBA releases the minutes of the most0-recent meeting. The Board lowered rates 25 basis points to 3.50% at the June 5 meeting and said:
More recent indicators suggest further weakening in Europe and some further moderation in growth in China. Conditions in other parts of Asia have largely recovered from the effects of last year’s natural disasters, but the ongoing trend is unclear and could be dampened by slower Chinese growth.
Governor Stevens later noted ‘grumpiness’ in consumers and the statement said:
Both households and businesses continue to exhibit a degree of precautionary behaviour, which may continue in the near term.
The market will be looking for more details, as well as comments on rates and inflation.
