I posted a quick heads up to the Reserve Bank of Australia meeting on 7 August 2018 earlier
- ANZ also point out Wednesday's Governor Lowe speech and Friday's Statement on Monetary Policy (SOMP)
NAB on what to expect:
- RBA Board Meeting is universally expected to again leave the cash rate unchanged at 1.5%
- In recent months, the Bank has been clear: it needs to see greater progress on unemployment, wages and inflation before it considers a hike. It's an on-hold position that is unlikely to change for some time yet.
- Nevertheless, post-meeting communication will be carefully watched for subtle shifts in the Bank's outlook.
- In particular, the RBA will publish its latest forecasts for GDP, inflation and unemployment in its quarterly Statement with some possible hints on Tuesday. (We look for little change in the forecasts.)
- Since the last Board Meeting, offshore developments have shifted. We've seen US-China trade risks intensify: tariffs have kicked in, the CNY has been depreciating and the US Administration has threatened escalation.
- The AUD/USDhas remained relatively low, around 74 cents. We'll be watching the RBA's interpretation of these developments in the post-meeting media release, the Statement and Lowe's speech and Q&A.
(bolding mine)
