The Reserve Bank of Australia statement is due at 0430 GMT. Earlier previews:
- RBA monetary policy meeting Tuesday 4 May 2021 - preview
- RBA monetary policy meeting Tuesday 4 May 2021 - preview (surprise coming?)
- RBA policy meeting Tuesday 4 May, and that's not all from the Bank this week
- RBA monetary policy meeting Tuesday 4 May 2021 - preview
- AUDUSD stalls near MA/swing areas
A couple of quick comments from around the place ...
NAB:
- We expect no change to rates or guidance in the RBA post-Meeting Statement
- SoMP release on Friday ... today's Statement is likely to give us a flavour in terms of what to expect from the new RBA forecasts ... RBA's forecast track for the economy will have to be upgraded in the SoMP
Standard Chartered
- We expect the RBA to keep policy rates on hold
- RBA is likely to maintain accommodative monetary policy throughout 2021-22; extend QE further after the current extension ends in August (by AUD100 B at its current purchase pace of AUD5 B/week); and keep the policy cash rate and 3Y yield curve target of 0.10% unchanged. It is also likely to maintain the April 2024 bond as the target bond in 2021.
