The Reserve Bank of Australia monetary policy decision is due at 0430 GMT on July 2 2019.

Previews posted:


HSBC is another of the (minority) that have called the RBA on hold today, some remarks via chief economist Paul Bloxham. Bloxham acknowledges a decent possibility for a cut today but says August is more likely:

  • RBA likely to want more time to evaluate the impact of their cut to the cash rate in June
  • And, waiting a further month would give the bank more information on local and overseas economic developments
  • "The RBA has made it clear that it is not yet willing to consider unconventional policy tools, but has also noted that its lower nominal bound for the cash rate is probably around 50 basis points - so it is rapidly running out of room to cut"
  • "With less firepower available, the central bank may want to spread the cuts out"