The Reserve Bank of Australia monetary policy announcement along with the accompanying statement from Governor Lowe is due at 0300GMT on Tuesday

I popped up a few previews earlireL

This now via Westpac:

  • The Reserve Bank last moved rates in August 2016 (a cut)
  • We expect the RBA to leave rates unchanged in 2019 and in 2020
  • While markets widely expect no move at the February meeting, the first for the year, there is speculation as to whether the Bank will soften their stance
  • we expect the RBA to remain positive on the outlook, albeit marking down their growth forecasts somewhat
  • The Bank will anticipate that further progress on inflation and unemployment will be (very) gradual - suggesting steady rates for some time yet

Also, quickie from Soc Gen …

Since the RBA's previous meeting in December, prospects for the global economy have deteriorated markedly

  • several other central banks have shifted their guidance - some rather radically
  • Australia's economy looks notably less strong than it did

We have ditched the view that rate normalisation would begin in May of this year

  • Indeed, with the US economy likely to slide into recession in 2020, we believe the next RBA rate move is more likely to be a cut than a hike.