Quick preview, the Reserve Bank of Australia policy meeting will result in an on hold cash rate, no change.
RBA Governor Lowe has sounded, cautiously, a little more upbeat (upbeat is probably wrong, less downbeat is a better description) in past days and indeed the RBA has not bought bonds for its QE operation since the week of May 6. The Bank skipped buying again today.
As such, tomorrow's statement should be a bit more encouraging from the Bank. I suspect the Governor will once again reiterate the importance of the government continuing to provide fiscal support for the economy.
