The Reserve Bank of Australia monetary policy decision and statement are due at 0430GMT
I posted previews here:
- AUD - RBA meeting Tuesday 2 July 2018 - quick preview (via ANZ)
- <a title="The Reserve Bank of Australia meet tomorrow, announcement at 2.30pm local time (0430GMT) TD with their outlook, bolding mine Probability Dovish (AUD - RBA meet Tuesday 2 July 2018, here is a preview (via TD)
This now via Westpac:
- The RBA will hold rates unchanged at their July meeting, as they have since they last cut rates in August 2016. The Governor's decision statement is likely to repeat the line that: "further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual".
- Updates over the last month have likely reinforced this 'gradual' view. While the stronger than expected March GDP result will be of some comfort, the detail around consumers was less upbeat with labour market updates continuing to show slower job gains. The outlook for labour markets and the wider nexus between labour markets, wage incomes and spending remain key areas of uncertainty.
- We continue to expect the RBA to leave the cash rate unchanged at 1.50% throughout 2018 and 2019. See p2 for a full discussion.
