From the Reserve Bank of Australia on Friday 9 August 2019 we get the latest quarterly Statement on Monetary Policy (SoMP).

Due at 0130GMT

It will contain revision to forecasts:

  • most likely to be downgrades for expectations for GDP growth this year and perhaps next (although perhaps not from the optimists at the RBA
  • upward revisions to the forecast unemployment rate
  • And yet another extension to the time (core) CPI is expected to hit target

A combination of expected higher unemployment and a longer period of below target inflation means the bank will not be hawkish, K?

That goes too for expected comments from RBA Governor Lowe today - he will be appearing before a parliamentary committee from 2330GMT. Again, Lowe will not be hawkish.

Recently traded in the rose-coloured ones

From the Reserve Bank of Australia on Friday 9 August 2019 we get the latest quarterly Statement on Monetary Policy (SoMP).