RBA decision due Tuesday, 7 May 2024 at 2.30 pm Sydney time – hawkish hold?

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

Earlier previews:

Outlier call for a rate hike:

This snippet from Westpac:

  • The RBA is widely expected to keep policy on hold today
  • Given the slower progress on disinflation evidenced by Q1 CPI, the Board’s language may be more hawkish

And this from Commonwealth Bank of Australia:

  • The RBA Board may restore its hiking bias at the upcoming May Board meeting.
  • But on balance we expect an ‘on hold’ decision to be accompanied by a neutral bias, in line with the policy decision and Statement from the March Board meeting


RBA cash rate compared to Australia’s inflation rate:

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