Due from the Reserve Bank of Australia at 0430GMT on ^ August 2019.

  • Consensus is for the cash rate to be left unchanged this time around (following 25 bp cuts on both June and July)

Later in the week:

  • Governor Philip Lowe speaking before the House of Representatives' Standing Committee on Economics. That will be on Friday 9 August 2019, 9.30 am Sydney time, which is 2330GMT (on Thursday 8 August)
  • Also on the 9th, the quarterly Statement on Monetary Policy, due at 11.30 am Sydney time, which is 0130GMT (on the 9th)

Anyway, back to the policy meeting on the 6th.

Via CBA:

  • RBA ... monetary policy decision on Tuesday … RBA are widely expected to keep the cash rate on hold at 1.0%
  • (last week's) Q2 CPI data showed inflation running close to the RBA's projections which buy the central bank some time to assess the impact of the latest cash rate cuts and personal income tax cuts.
  • However the RBA's plans to get the unemployment rate down to 4½% and inflation back to target look ambitious. We think that the RBA will deliver another rate cut later this year - probably November.

NAB:

  • RBA is expected to remain on hold and signal a readiness to cut rates further if needed
  • The accompanying press release should again signal a willingness to cut further if required, repeating that, "the board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time (emphasis added)"
  • should also highlight the ongoing trade conflict between the US and China