What You Want To Know Ahead of RBA’s Key Meeting Tuesday
- Published on
- 06 Jul 2021, 12:09 PM
By Sophia Rodrigues
(Sydney, July 6, 2021)—In the interest of providing as much information to the market as possible ahead of the Reserve Bank of Australia’s key board meeting Tuesday, I have put together a few points.
The RBA will release the monetary policy decision statement as usual at 1430 hours Sydney time. This statement is expected to contain decisions on the three-year yield target and on the bond purchase program, but it is unlikely to be a detailed one.
Governor Philip Lowe will make a statement at 1600 hours Sydney time. This statement is not being provided as an embargoed copy to news organizations (CB-Intel is one of them) but it will be published on the website at the same time as Lowe starts speaking.
It is likely that the statement is a repeat of much of the information that the RBA will provide at 1430 hours.
But it is also entirely likely the statement will contain more detailed information on the recent decisions, and the outlook. Because it is not an embargoed copy, various news agencies would have different key headlines depending on how quickly they find the most interesting information. Those trading in the market might want to keep this in mind.
Governor Lowe is fully committed to transparency and will take as many questions as possible at the Q&A session. Given the kind of decisions expected, it is likely almost every participant (journalists and market economists) will have a question to ask. So, expect it to be a longer than usual Q&A session. It also means you will find an answer to your own question because one of those participants might think on similar lines as you.