Australian shares are set to open higher, lifted by gains in oil and iron ore. Philip Lowe’s final rate decision is set for Tuesday. Follow updates here.
For local investors, the focus is clearly on Tuesday’s policy meeting at the Reserve Bank and RBA governor Philip Lowe’s final speech on Thursday.: “RBA governor Lowe’s final board meeting is widely expected to come and go without incident. The data flow since August, when the Board saw a credible path back to the inflation target with the cash rate staying at its current level, shouldn’t force a re-assessment, and if anything has been somewhat encouraging on balance.
“Nonetheless, the guidance that ‘some further tightening of monetary policy may be required’ is likely to remain, and we think risks remain that the inflation data over the next couple of months could see the RBA act on that tightening bias.”– at the Anika Foundation, in Sydney at 1.10pm on Thursday.
“We are not out of the woods yet, but RBA’s pursuit of a soft landing still appears to be on track. While homeowners across the country are praying for relief before Christmastime, banks are remaining pessimistic about any relief before this time next year. With Michele Bullock set to take the helm this month, economists are tipping her first crack at easing rates may be a while away in the third quarter of 2024.
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