Analysts at the National Australia Bank (NAB) offer a preview of what can be expected from the monetary policy decision of the Reserve Bank of Australia (RBA) on Tuesday.
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“The RBA meets on Tuesday and is expected to offer another 50 basis point hike, taking the cash rate to 1.85% and its highest level since April 2016.”
“A 50 basis point hike is overwhelming consensus (22 of 23 analysts surveyed) and 47 basis points is currently priced in markets.”
“Nevertheless, the possibility of a rise of more than 50 basis points cannot be completely ruled out.”
Refering to RBA monetary policy statement to be released on FridayA full update to the forecasts will be released on Friday in the August monetary policy statement. The RBA will have to raise its inflation profile and lower its short-term unemployment projectionfocusing on whether forecasts show a credible path back to the inflation target.”
Source: Fx Street
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