RBA to announce its latest policy decision at 0430 GMT
Given current circumstances, the Australian central bank is unlikely to offer much in terms of policy changes. The cash rate should be kept at 0.10% while the 3-year bond yields target should remain at 0.10%.
However, there might be a potential move to shift the focus on the 3-year bond yields target from April 2024 bonds to November 2024 bonds instead - in which the latter is trading at significantly higher yields (close to 0.30%).
So, that will be one to take note of in case it weighs slightly on the Australian dollar.
Some earlier previews ahead of the decision:
- There is a small chance of AUD volatility (to the downside) on today's RBA decision - here's why
- Tuesday 6 April 2021 Reserve Bank of Australia monetary policy meeting - preview
- Reuters poll on expectations for the RBA cash rate at Tuesday's meeting
- Preview: RBA could soon tweak the yield-curve control target
- Has the Reserve Bank of Australia (RBA) failed Australians?
