Reserve Bank of Australia meeting today – preview – on hold expected

The Reserve Bank of Australia statement is coming at 0030 US Eastern time, 0430 GMT.

• Governor Bullock will hold her press conference an hour later.
• Expectations are unanimous for an on hold decision.

ANZ, in its preview, say they expect the RBA Board to consider hiking the cash rate today, but to settle with an unchanged rate. ANZ expect the first RBA rate cut in February of 2025, “But the risks look to have tilted to a later rather than an earlier start, particularly given the current momentum in the labour market”.

Earlier previews:

• RBA meeting – preview – to leave the cash rate on hold at 4.35%

Related:

• Australia CPI preview – CBA expect “Headline inflation in August back within RBA’s target”
• Australian August Monthly CPI preview – Westpac expect 2.7% y/y for the monthly read
• AUD/USD support: RBA on hold with strong jobs market, sticky CPI; Fed policy divergence
• CBA shifts expected RBA rate cut timing to December 2024 (from November)

From the front page of the RBA website, current cash and inflation rates.

This article was written by Eamonn Sheridan at www.forexlive.com.