Back
6 May 2013
Forex Flash: RBA to hold rates unchanged - UBS
FXstreet.com (San Francisco) - The Reserve Bank of Australia is schedule to hold its monthly monetary policy meeting on Tuesday May 7th at 4:30 GMT (14:30 Sydney time). The market's consensus is the RBA to keep its interest rate unchanged at 3.0% and the UBS' analyst team expects the same but they are focusing in the possible dovish tone of the press release.
"The RBA May meeting has become a closer call given recent softer activity and CPI data," points the bank. "We expect the RBA to hold, but their press release will be watched for a more dovish tone while their SOMP (Friday) will likely trim their inflation (but not GDP) forecasts." states the analyst team.
"We continue to see the RBA staying on hold," UBS concludes.
"The RBA May meeting has become a closer call given recent softer activity and CPI data," points the bank. "We expect the RBA to hold, but their press release will be watched for a more dovish tone while their SOMP (Friday) will likely trim their inflation (but not GDP) forecasts." states the analyst team.
"We continue to see the RBA staying on hold," UBS concludes.