Reserve Bank of Australia meeting minutes are due at 0130 GMT but are not expected to show anything much new.
At the July meeting the Bank announced:
- it kept the April 2024 as the yield target bond
- tapering of its QE program to AUD4bn/week
Governor Lowe has already discussed the background to the tapering hence nothing much new expected from the minutes.
What will NOT be in the minutes are the recent developments in Sydney and Melbourne where shutdowns will slash GDP:
- Australia coronavirus - Sydney and Victorian lockdowns will cost the country $10bn
- HSBC expect Australia's economy to stall
- Goldman Sachs slashes its Australian Q3 GDP forecast nearly in half - citing Sydney coronavirus lockdown
- CBA says Sydney and Melbourne's lockdowns are set to sharply impact the Australian economy
And, on that planned tapering ....
