The September Reserve Bank of Australia monetary policy meeting is today, previews here:
- RBA meet Tuesday - preview for what is an assured result
- AUD traders - RBA September meeting is Tuesday - preview
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):