Reserve Bank of Australia Chairman Lowe Speaks
Another Dovish RBA Speech?
Starts Tuesday, August 21, 2018 at 17:41
Updated Sunday, August 19, 2018
The Governor of the Reserve Bank of Australia is holding a speech ahead of the monetary minutes which will be released in a few hours. Last week, the RBA vice Governor sounded pretty dovish. She said that wages are expected to remain low and lag behind in comparison to economic growth or the fall in the unemployment rate. She mentioned the situation in the US as an example where we have been seeing a similar situation in the last few years where unemployment has fallen to multiple decade lows but wages are not rising as expected. Is Lowe goint to repeat the same thing today? If so, then the AUD/USD is expected to turn bearish.
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About Reserve Bank of Australia Chairman Lowe Speaks
The Reserve Bank of Australia (RBA) releases the Monetary Policy Statement four times per year. It is an assessment of current economic conditions, as well as projections for Australian inflation and growth. A number of special reports, both domestic and international, are also included by the RBA in the statement.Acting RBA Governor Philip Lowe delivers the statements to the public. Lowe’s term as governor began in 2016 and is slated to end in 2023. Lowe acts as the primary counsel to RBA board members and plays a key role in crafting monetary policy facing the Australian dollar (AUD).The RBA Monetary Policy Statement, as well as speeches by Lowe, have the potential to dramatically impact AUD valuations. Hawkish comments or actions are typically viewed as bullish, while dovish tones are interpreted as bearish toward the AUD.