The September Reserve Bank of Australia monetary policy meeting is today, previews here:

The unanimous expectation is for the Bank to leave the cash rate unchanged.

This via TD, in brief:

  • The RBA saturated the airwaves last month (monthly, quarterly and semi-annual updates) but remained on message, reinforcing that stability is the RBA's #1 role in these turbulent times
  • We doubt the policy statement will mention Westpac's +14bp out-of-cycle-mortgage hike (perhaps in the Minutes) but could remove the reference to mortgage rates being lower than a year ago. It could note that the AUD is at the bottom of its recent two-year range

Scenarios for the AUD (the column on the right of screenshot is the expected reaction):