RBA October monetary policy decision due at 0330gmt (Tuesday 3 October 2017)

  • No change to the cash rate target expected
  • Little change expected in the accompanying statement wither
  • No press conference (there never is)

Earlier posts:

Here are another 3 quickies (I know the title says 2, the extra one is a bonus if you've read this far ;-) ):

TD Securities:

  • Unanimous consensus expects 1.5% through to year end, and neutral RBA rhetoric has made sure that this will remain the case.
  • We expect a control C-control V statement from September as to not draw unnecessary attention.
  • We do not look for a hawkish tilt from Governor Lowe until February 2018 at the absolute earliest.

HSBC:

  • The RBA is expected to be firmly on hold in early October, ahead of the all-important Q3 CPI print due later that month.
  • Growth indicators remain positive, with business conditions around decade highs and jobs growth picking up pace.
  • We see this putting some upward pressure on wage growth and underlying inflation over time and expect a hike in early 2018.

CBA:

  • The RBA Board meeting is expected to deliver a "no change" position on the 1.5% cash rate.
  • The accompanying Statement may contain the usual comments on the improving prospects for the domestic economy and the labour market

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