AUD traders heads up – Reserve Bank of Australia Governor Bullock speaks later on Tuesday

On Tuesday, 24 October 2023 at 7 pm Sydney time,

  • which is 0800 GMT and 0400 US Eastern time

Reserve Bank of Australia Governor Bullock is speaking.

The topic is:

  • Monetary Policy in Australia: Complementarities and Trade-offs

at the Commonwealth Bank of Australia Global Markets Conference, Sydney

Bullock spoke last week:

Bullard’s remarks on the inflation battle the RBA is facing have been more forthright than previous Governor Lowe’s. I suspect she is a little less tolerant of the slow progress towards the bank’s target than Lowe was. I expect Bullock will not relent on her hawkishness in her speech this evening.

From the most recent RBA meeting minutes, this stood out:

  • “the Board has a low tolerance for a slower return of inflation to target than currently expected

As well as Bullock’s speech the CPI data due Wednesday will be very closely eyed. An upside surprise could bring on a November 7 rate hike. Indeed, NAB is expecting just that:

The Reserve Bank of Australia’s cash rate is presently 4.1%

This article was written by Eamonn Sheridan at Source