Economic calendar in Asia, 4 August 2023 – Reserve Bank of Australia Statement

<p>It's a bit of a dud data calendar for Asia today, everyone is waiting on the US NFP Friday morning US Eastern time. </p><p>We do get the latest updated RBA Statement on Monetary Policy.</p><ul><li>due on 11.30am Sydney time,

0130 GMT, 9.30 pm US Eastern time</li></ul><p>From an earlier post:</p><p>Commonwealth Bank of Australia on what to expect:</p><ul><li>The RBA will provide a full refresh of its economic forecasts as part of the quarterly Statement on Monetary Policy. Despite the lower than expected Q2 23 CPI, the forecasts previewed in the August post-meeting Statement suggest no change to the inflation profile since May. The profile for the unemployment rate also looks to have remained unchanged, with the RBA expecting a pick-up to 4½% in late 2024.</li></ul><p>The RBA's Statement on Monetary Policy:</p><ul><li>It outlines the bank's views on domestic and international economic conditions.</li><li>also provides an analysis of the bank's policy decisions and an outlook for inflation and output growth.</li><li>It typically includes:<ul><li>An overview of the global and domestic economic situation, which incorporates various factors such as growth, inflation, employment, and monetary and fiscal policies of key countries.</li><li>Information about financial markets, which details changes in asset prices, exchange rates, and monetary policy settings worldwide.</li><li>Domestic economic conditions, which provides a comprehensive analysis of key indicators including GDP, consumer spending, business investments, the labor market, and housing market.</li><li>Forecasts for domestic economic activity and inflation, typically for a period of two years ahead. And an assessment of the balance of risks surrounding these forecasts.</li></ul></li></ul>

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