The RBA meets for its monthly policy meeting on Thursday. What can we expect from policymakers? Bank of America Global Research discusses its expectations for tonight’s RBA May policy meeting. “We expect the RBA to keep the official cash rate steady at 0.25% at the May board meeting this week. The success of unconventional policies has seen the RBA slow bond purchases and reverse repo volumes in OMO, although the pace was unsustainable anyway. There is a high hurdle for the introduction of new policy levers this week and the Bank is likely to allow more time for the financial system to adjust to the existing measures introduced last month,” BofA notes. “We expect no adjustments to the Exchange Settlement account surplus rate of 10bp, yield targeting approach or the Term Funding Facility. While we have picked up a slightly less dovish tone in our RBA Sentiment Indicator the Bank will continue to retain forward guidance that interest rates will remain unchanged for a very long time…In this context, negative seasonality in May suggests investors should be cautious of buying AUD at these level,” BofA adds. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Daily Look share Read Next Breaking: EUR/USD jumps towards 1.0950 after German court partly dismisses ECB QE case FX Street 2 years The RBA meets for its monthly policy meeting on Thursday. What can we expect from policymakers? Bank of America Global Research discusses its expectations for tonight's RBA May policy meeting. "We expect the RBA to keep the official cash rate steady at 0.25% at the May board meeting this week. The success of unconventional policies has seen the RBA slow bond purchases and reverse repo volumes in OMO, although the pace was unsustainable anyway. There is a high hurdle for the introduction of new policy levers this week and the Bank is likely to allow more time for the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
