The Reserve Bank of Australia policy meeting statement will be released on Tuesday February 2 (due at 2.30pm Sydney time, which is 0330GMT).
- Following the meeting Reserve Bank of Australia Governor Lowe will speak on Wednesday, February 3, at the National Press Club of Australia Conference, 12.30 pm Sydney time (which is 0130GMT). Topic is “The Year Ahead”
- Lowe will appear before Parliament, the House of Representatives Standing Committee on Economics, on Friday 5 February 2021 from 9.30 am Sydney time (2230GMT)
- And on Friday, February 5, we’ll get the quarterly Statement on Monetary Policy (11.30 am Sydney, 0030GMT)
I posted a couple of earlier previews:
Adding in brief thoughts via Scoita:
- No policy changes are expected
- to maintain the overnight cash rate at 0.1%, the 3-year government bond yield target of 0.1% and continues with its A$100 billion bond purchase program
- The latter was introduced on November 3rd with purchases slated to be completed over a period of “approximately” six months. It is unlikely to alter guidance around this program with headline inflation at 0.9% y/y and the trimmed mean and weighted median CPI measures running at 1.2-1.4% and hence well below the 2-3% inflation target range. Where the RBA has witnessed substantial progress has been in labour markets as the easing of restrictions has been followed by job gains that have reduced the unemployment rate to about 6.6%.