Earlier previews of today's RBA decisions are here (spoiler alert - on hold):
- Reuters poll on expectations for the RBA cash rate at Tuesday's meeting
- Preview: RBA could soon tweak the yield-curve control target
Announcement is due at 0430GMT.
Westpac expect no change to policy. Further ahead (bolding mine):
- Activity conditions have surprised to the high side as the economy reopens and the unemployment rate moderated to 5.8% in February, down from the mid-2020 peak of 7.5%. However that rate of 5.8% is still too high and the achievement of the RBA's policy goals is still a long way off.
- RBA guidance is that: "The Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target range. ... The Board does not expect these conditions to be met until 2024 at the earliest"
Of more interest than the decision will be the accompanying statement from Governor Lowe, which will be released at the same time as the decision. There is no press conference to follow.
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ICYMI, current policy settings from the Reserve Bank of Australia include:
- the official cash rate target at 10 basis points (0.1%)
- 0.1% also for the yield on the 3-year Australian Government bond
