The Reserve Bank of Australia monetary policy meeting is tomorrow, statement due at 0330 GMT.
Previews will be coming up.
- The Reserve Bank is going to abandon the policy structure it put in place exactly one year ago – at, ironically, 2020’s Melbourne Cup Day meeting.
- RBA Governor Philip Lowe is going to – somewhat uncomfortably and even more uncertainly – announce that world has now ended; and most especially the ‘promise’ not to change that core 0.1 per cent until 2024.
- The RBA is not going to raise its rate immediately, and there’s no
certainty that it will raise in 2022 as the ‘market’ is now predicting.