The Reserve Bank of Australia meeting back at the beginning of May was followed only a few days later with the latest quarterly Statement on Monetary Policy (SoMP).
- In the SoMP the RBA updated forecasts
- The RBA is currently sticking to its projections there will be no change to the cash rate until 2024 at the earliest
The minutes are unlikely to shed too much more light, but of course, we shall see. There is the possibility we'll be getting more info on conditions in the economy and some further guide as to what the Bank is looking at around expanding stimulus. However, it may be Ju;ly before we got this. As the RBA said (in brief):
"At its July meeting
- the Board will consider whether to retain the April 2024 bond as the target for the 3-year yield target or to shift to the next maturity, the November 2024 bond.
- the Board will also consider future bond purchases following the completion of the second A$100B of purchases under the government bond purchase program in September.
The Board is prepared to undertake further bond purchases to assist with progress towards the goals of full employment and inflation."
Earlier posted preview here:
