It’s a new month, and you know what means! Yep … RBA meeting on the first Tuesday of the month coming up (except for January … Australia is at the beach in January)
So, what to expect on Tuesday (6 October)?
Not much…
But … here’s a bit more from RBC economist Su-Lin Ong.
- Expects no change in OCR target
BUT … is looking for change in the accompanying statement … such as:
- RBA likely to welcome the lower exchange rate but may caution that the it needs to be sustained in order to help contribute to more balanced growth
- RBA will likely suggest that it is above estimates of fundamental value still
- Likely to say that that credit growth continues, with much stronger lending for investor loans adding to emerging risks in this sector
- RBA may be more cautious on China
- Likely to acknowledge the recent fall in commodity price
- Likely to keep its assessment that a degree of spare capacity remains in the labour market
