Reserve Bank of Australia meet this week – on hold decision expected

The RBA statement is due at 2.30 pm Sydney time on Tuesday, 19 March 2024

• 0330 GMT
• 2330 US Eastern time

No change to the cash rate is the expectation:

• Reserve Bank of Australia expected to keep its 4.35% cash rate unchanged until September
• The Reserve Bank of Australia March policy decision is due on the 19th – ‘on hold’ preview

Morgan Stanley (via Bloomberg, gated) “expect a slight tightening bias will be kept”:

• “The governor will likely highlight how the data over the past six weeks has evolved broadly as expected and is consistent with continued progress towards the RBA’s targets”

Bloomberg add from Westpac (WPAC also expecting no change to the cash rate at tomorrow’s meeting):

• “Inflation is moderating, which will help to lessen the pressure on households”
• “Policy is set to pivot from mid–year, with the stage-3 income tax cuts commencing from July 1 and the beginning of an RBA easing cycle, expected from September. Less restrictive policy will support an economic revival.”

Currnetly.

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