Reminder – 4 huge events coming from the RBA: Policy decision, Bullock, Statement, Hunter

The RBA policy announcement is due at 2.30pm Sydney time today, August 6, 2024:

• 0430 GMT, and 0030 US Eastern time
• The Bank is expected to leave its cash rate unchanged at 4.35%. The accompanying statement is expected to stick pretty much to the previous script, that the Bank remains alert to potential upside inflation risks.
• Released at the same time is the latest Statement on Monetary Policy (SoMP) – see below

Governor Bullock will hold her press conference an hour later.

Assistant Governor (Economic) Hunter speaks the next day.

I posted this screenshot yesterday:

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The RBA’s Statement on Monetary Policy.

• It outlines the bank’s views on domestic and international economic conditions.
• also provides an analysis of the bank’s policy decisions and an outlook for inflation and output growth.
• It typically includes:
  • An overview of the global and domestic economic situation, which incorporates various factors such as growth, inflation, employment, and monetary and fiscal policies of key countries.
  • Information about financial markets, which details changes in asset prices, exchange rates, and monetary policy settings worldwide.
  • Domestic economic conditions, which provides a comprehensive analysis of key indicators including GDP, consumer spending, business investments, the labor market, and housing market.
  • Forecasts for domestic economic activity and inflation, typically for a period of two years ahead. And an assessment of the balance of risks surrounding these forecasts.

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