Australian housing finance for June 2014 and the Reserve Bank of Australia (RBA)’s Statement on Monetary Policy are both due at 0130GMT.

On the RBA statement …

  • Will include forecasts for growth and inflation, and issue a commentary on the economy.
  • NAB are saying to expect the GDP forecast to be little changed – strong Q1 GDP is likely to be mostly offset by a softening in growth in Q2
  • ANZ economists expect the RBA’s outlook on the economy to remain cautiously optimistic, they see little change to the RBA’s inflation outlook & growth forecasts, and say the bank is likely to confirm that rates are set to stay on hold for some time to come