RBA meeting this week – preview – again expected for 2nd consecutive month, AUD vulnerable


The Reserve Bank of Australia will meet on Tuesday, 2 May 2023.

  • announcement at 2.30pm local time, which is 0430 GMT and 0030 US Eastern Time.

Last month, the RBA left the cash rate unchanged after 10 consecutive rate hikes.

TD Bank remains on hold at this May meeting (as consensus)

“The RBA hit the pause button last month and we expect it to leave the cash rate target unchanged again as the Bank wants more time to assess the impact of the rapid growth to date. “Continued moderation in monthly CPI prints and a lower 1Q truncated average (the RBA’s key inflation gauge) allow the Bank to take a long break,” noted TD.

“The FX Curve changed the RBA rate and dragged the AUD down with it. But risks around equity sentiment and US-centric developments leave the AUD vulnerable, especially against crosses where monetary policy is still in play (such as the EURAUD and AUDNZD),” TD added.

TD alerts are coming

eFX staff.

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