Reserve Bank of Australia is due at 0330 GMT.
A couple of points made by National Australia Bank - what to watch for:
- last week's de facto abandonment of the 0.1% April 2024 Yield Curve Control target is expected to be formalised. In doing so, presumably the broad contours of the RBA's forecast revisions, to be revealed in the Statement today prior to publication in Friday's SoMP would, if realised, allow for rates 'lift-off' potentially occurring somewhat earlier than April 2024.
- A point of market interest here is whether or not the RBA maintains some form of date-based guidance alongside a repetition of the state-based guidance for lift-off that already exists (i.e. that inflation must be deemed to be sustainably inside the 2-3% target, and with wages growth materially higher than currently).
- Another point of focus is on whether the QE policy ($4bn of purchases per week) will continue through at least February next year as currently articulated.
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ps. SoMP is the RBA's Statement on Monetary Policy
- which is on Friday 5 November 2021 at 11.30 am Sydney time, which is 0030 GMT
- The Statement updates the Bank's assessment of current economic conditions, both domestic and international, along with the outlook for Australian inflation and output growth. The Statement is issued quarterly.
