RBA Governor Lowe speech coming up soon - preview
Philip Lowe, Governor of the Reserve Bank of Australia is speaking on Tuesday 21 May 2019 at 0310GMT.
Earlier posts on this:
- Before the next RBA meeting here are two events to watch for clues
- AUD traders - plenty coming up from the RBA on Tuesday May 21
A few snippets from about the place.
- 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
- 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