Reserve Bank of Australia implements major changes for 2024

<p>2024 is going to be a year of huge change for the Reserve Bank of Australia. </p><p>The number of meetings have been cut from 11 a year to 8 (Fibonacci folks take note!).</p><p>There will also be a new policy to have Reserve Bank of Australia Governor Bullock hold a press conference after each meeting. </p><p>Bank of America (via <a href="https://www.afr.com/markets/debt-markets/the-rba-will-be-reluctant-interest-rate-cutters-20231214-p5erlj" target="_blank" rel="nofollow">AFR</a>, gated) on what to expect:</p><p>Less frequent meetings is probably a good thing for the RBA</p><p>Allows the bank not to have to keep its hawkish guidance when the data goes month to month</p><p>And:</p><p>Bullock appears less inclined to raise interest rates than her predecessor, Philip Lowe</p><p>new deputy governor, British central banker Andrew Hauser, and a new chief economist, Treasury official Sarah Hunter, could have an impact</p><p> “In short, RBA communications will be a little bit more volatile to start with, but will be probably better in the longer term”</p><p>RBA dates ahead:</p>

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