Preview of the RBA monetary policy decision today and accompanying statement

The Reserve Bank of Australia is expected to leave the cash rate target on hold today at 2%

All surveys of economists I have seen (Bloomberg, Reuters, DJ and more) are all showing a unanimous expectation for on hold.

Anyone expecting any different? A cut or, a hike (just a sec, let me pick myself up off the floor)? If so, in the comments please. And good luck with that.

While policy is expected to remain on hold, there is a good probability of a talking down on the AUD. The Australian dollar has been resilient and the RBA will not want it higher ... so some jawboning should be expected. Greg had some comments from the ANZ along these lines, here.

Note that this is the final RBA board meeting for the year. the next is due on February 1.

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For the AUD today, I posted levels to watch here, and also a warning on leaving orders dangling out there over the major events today. For some techs, see the link from Greg (above).