RBA Governor Lowe speech coming up soon - preview

Author: Eamonn Sheridan | Category: Central Banks

Philip Lowe, Governor of the Reserve Bank of Australia is speaking on Tuesday 21 May 2019 at 0310GMT.

Earlier posts on this:
Note, prior to Lowe speaking the RBA May meeting mutes are published (due at 0130GMT)

A few snippets from about the place.
NAB says:
  • We expect that the RBA will signal easier policy on Tuesday in the RBA Board minutes and key speech by Governor Lowe. In a speech entitled 'The Economic Outlook and Monetary Policy', NAB expects Lowe will emphasise the Bank's easing bias and pave the way for a cut in June. 
(Background to this is NAB is calling an RBA rate cute in June, and August).

The WSJ is also expecting big (dovish) things from Lowe today:
  • For those who didn't grasp the easing bias when it was first rolled out at the board meeting on May 7, the message of coming interest-rate cuts, the first since 2016, will be made crystal clear.
  • Lowe will highlight rising unemployment and stalled wage growth
  • setting the scene for an interest-rate cut as early as June
  • will fix its gaze on the need for the RBA to see unemployment falling-something its current set of forecasts doesn't anticipate before the end of 2020, despite being modeled on the presumption of two cuts
CBA:
  • AUD/USD may decline toward 0.6830 overnight and could underperform against most major currencies we monitor. 
  • RBA Governor Phil Lowe is delivering a speech on "The Economic Outlook and Monetary Policy". We see a risk that Lowe outlines the case for a rate cut in his speech



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