The latest statement from the Reserve Bank of Australia is due on Friday

The Reserve Bank of Australia’s Statement on Monetary Policy is released quarterly. The next is due on Friday August 4 at 11.30am Sydney time.

  • 0130 GMT, 9.30 pm US Eastern time

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.

Earlier this week the RBA left its cash rate unchanged again:

Background on 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.

The Statement is released quarterly. The next is due on Friday August 4 at 11.30am Sydney time (0130 GMT 9.30 pm US Eastern time)

This article was written by Eamonn Sheridan at Source