Economic calendar in Asia, 4 August 2023 – Reserve Bank of Australia Statement

It’s a bit of a dud data calendar for Asia today, everyone is waiting on the US NFP Friday morning US Eastern time.

We do get the latest updated RBA Statement on Monetary Policy.

  • due on 11.30am Sydney time, 0130 GMT, 9.30 pm US Eastern time

From an earlier post:

Commonwealth Bank of Australia on what to expect:

  • The RBA will provide a full refresh of its economic forecasts as part of the quarterly Statement on Monetary Policy. Despite the lower than expected Q2 23 CPI, the forecasts previewed in the August post-meeting Statement suggest no change to the inflation profile since May. The profile for the unemployment rate also looks to have remained unchanged, with the RBA expecting a pick-up to 4½% in late 2024.

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 Source