Reserve Bank of Australia meeting on Tuesday, December 10, 2024 – Statement/Bullock focus

The Reserve Bank of Australia policy statement will be released at 2.30pm Sydney time on Tuesday, December 10, 2024.

• 0330 GMT / 2230 US Eastern time on Monday
• Reserve Bank of Australia Governor Bullock will hold her press conference an hour later

According to the Bloomberg survey of analysts the unanimous expectations os for the cash rate to be left on hold at 4.35%.

The focus will turn to the Statement initially, and Bullock later.

Commonwealth Bank of Australia says on the Statement:

• The Statement accompanying the decision is likely to reiterate that ‘the Board is not ruling anything in or out’.
• But we are approaching the point at which the RBA could (and should) remove this line as another rate rise is increasingly unlikely; the economic data is evolving in the direction that means the next move in rates will be down.
• Notwithstanding we suspect the Board will hold its neutral policy bias

And further out:

• The December Board Minutes could provide a more dovish tilt than the Statement accompanying the Decision.

For your diary, the RBA will release the minutes from its December 2024 Monetary Policy Meeting on 24 December 2024 at 11:30 am AEDT

• 0030 GMT / 1930 US Eastern time on December 23

The current cash and inflation rates in Australia.

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