The Reserve Bank of Australia monetary policy meeting is Tuesday
- Announcement and Statement due at 0330GMT
- And, by the way, the RBA follow up on Friday with their quarterly Statement on monetary Policy (SoMP)
I've posted up 4 previews for the meeting so far:
- Goldman Sachs - Reserve Bank of Australia preview
- Currency preview into the RBA & RBNZ this week: "AUD/NZD could head lower"
- Reserve Bank of Australia meeting on February 7 - preview
- Here's an RBA preview (February 7 meeting) - All economists say rates on hold
Here's #5 - this one from Westpac (bolding mine):
- The most recent Board minutes for the December meeting emphasised the concern the Board has with balancing the risks around financial stability and the possible need to further support a deteriorating economy
- A reasonable interpretation of this discussion is that the "hurdle" to cut rates is high
- Further, the minutes put a positive spin on the current economic outlook: consumer spending passing through a soft patch; non-mining investment being a bit stronger than the most recent CAPEX survey; the fall in the unemployment rate being consistent with hours worked; and the drag from mining investment being likely to ease markedly in2017
- This sentiment is certainly consistent with our long-held view that rates are likely to remain on hold over the course of 2017
-
ps. Here's an RBNZ preview too! Reserve Bank of New Zealand announcement isThursday
- RBNZ meet Thursday 9 February - preview (Goldman Sachs)