The latest statement from the Reserve Bank of Australia is due on Friday

<p>The Reserve Bank of Australia's Statement on Monetary Policy is released quarterly. The next is due on Friday August 4 at 11.30am Sydney time.</p><ul><li>0130 GMT, 9.30 pm US Eastern time</li></ul><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>–</p><p>Earlier this week the RBA left its cash rate unchanged again:</p><ul><li><a href="https://www.forexlive.com/centralbank/rba-leaves-cash-rate-unchanged-at-410-for-a-second-straight-meeting-20230801/" target="_blank" rel="follow" data-article-link="true">RBA leaves cash rate unchanged at 4.10% for a second straight meeting</a></li><li><a href="https://www.forexlive.com/news/forexlive-european-fx-news-wrap-aussie-knocked-lower-by-rba-yen-fall-extends-20230801/" target="_blank" rel="follow" data-article-link="true">ForexLive European FX news wrap: Aussie knocked lower by RBA</a></li></ul><p>—</p><p>Background on 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><p>The Statement is released quarterly. The next is due on Friday August 4 at 11.30am Sydney time (0130 GMT 9.30 pm US Eastern time)</p><p>–</p>

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