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AUD traders heads up – Reserve Bank of Australia meeting underway – statement due Tuesday

The Reserve Bank of Australia is expected to leave its cash rate unchanged at 4.35%.

The statement is due at 2.30 pm Sydney time on Tuesday, November 5, 2024:

  • 0330 GMT
  • 2230 US Eastern time (Monday evening)
  • Reserve Bank of Australia Governor Bullock press conference will follow an hour later

As far as the tone of the statement, its expected the Bank will dial back the hawkish rhetoric a little given the lower inflation reading from the Australian Bureau of Statistics last week:

We’ve had some data just today that indicate inflation is still a risk, and that the labour market is steady/strong:

These data won’t influence the RBA meeting, but won’t be ignored either.

***

Earlier previews:

Reserve Bank of Australia Governor Bullock

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

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