Today’s RBA interest rate decisions isn’t expected to have any official change to interest rates. However, we could well see more details on the state of monetary policy.

The consensus is that the RBA will leave rates on hold. However, there are a few positives and negatives to consider at the moment.

Positives

• Employment is strong
• Sentiment remains reasonable
• The slide in house prices is slowing – albeit still negative

Negatives

• Poor retail sales data last month
• Sluggish wage growth
• Overall weak CPI

Currently, the market is pricing in around a quarter of a per cent cut over the next 12 months, so the door is open for a more dovish slant on rates.

We also have to remember that Governor Lowe is speaking tomorrow. Last month it was the day after the RBA that the real fireworks happened.