Reserve Bank of Australia minutes are due at 1130am local time, which is 0130GMT
ASB preview the release, not looking for much new info:
meeting minutes are unlikely to contain any new information given the Statement on Monetary Policy was released shortly after this meeting
- The RBA has revised up their GDP forecasts and revised their unemployment rate forecasts significantly lower.
- But wages growth and inflation are expected to remain relatively subdued over the next few years.
- Given the strength in the economy and the scale of both monetary and fiscal stimulus in place, we see wages growth and inflation lifting more quickly than the RBA expects.
The background to the minutes is no change in policy at the meeting and the SoMP out a few days later (as noted by ASB, above). The RBA is sticking to the line of no rate hike until 2024 at the earliest.
RBA Gov Lowe and Australian Treasurer Frydenberg:
