AUD traders heads up – Reserve Bank of Australia Governor Bullock speaks later on Tuesday

<p>On Tuesday, 24 October 2023 at 7 pm Sydney time, </p><ul><li>which is 0800 GMT and 0400 US Eastern time </li></ul><p>Reserve Bank of Australia Governor Bullock is speaking.</p><p>The topic is:</p><ul><li>Monetary Policy in Australia: Complementarities and Trade-offs</li></ul><p>at the Commonwealth Bank of Australia Global Markets Conference, Sydney</p><p>Bullock spoke last week:</p><ul><li><a href="https://www.forexlive.com/centralbank/rba-gov-bullock-says-is-a-bot-more-woried-about-the-inflation-impact-from-supply-shocks-20231017/" target="_blank" data-article-link="true">RBA Gov Bullock says is a bit more worried about the inflation impact from supply shocks</a></li><li><a href="https://www.forexlive.com/centralbank/more-from-rba-gov-bullock-if-inflation-remains-higher-than-expected-will-respond-20231017/" target="_blank" data-article-link="true">More from RBA Gov Bullock – if inflation remains higher than expected will respond</a></li></ul><p>Bullard's remarks on the inflation battle the RBA is facing have been more forthright than previous Governor Lowe's. I suspect she is a little less tolerant of the slow progress towards the bank's target than Lowe was. I expect Bullock will not relent on her hawkishness in her speech this evening. </p><p>From the most recent RBA meeting minutes, this stood out:</p><ul><li>“the Board has a low tolerance for a slower return of inflation to target than currently expected</li></ul><p>As well as Bullock's speech the CPI data due Wednesday will be very closely eyed. An upside surprise could bring on a November 7 rate hike. Indeed, NAB is expecting just that:</p><ul><li><a href="https://www.forexlive.com/centralbank/aud-traders-nab-says-cpi-data-to-be-higher-than-rba-expects-forecast-november-rate-hike-20231023/" target="_blank" rel="follow" data-article-link="true">AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike</a></li></ul><p>The Reserve Bank of Australia's cash rate is presently 4.1%</p>

This article was written by Eamonn Sheridan at www.forexlive.com.