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:
- RBA leaves cash rate unchanged at 4.10% for a second straight meeting
- ForexLive European FX news wrap: Aussie knocked lower by RBA
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 www.forexlive.com. Source