The Reserve Bank of Australia is releasing the full detail of its updated forecasts in the August Statement on Monetary Policy. This follows Tuesday’s statement, whereby the Governor, Phillip Lowe, revealed that the forecast of -6%yr contraction by end 2020 has not changed, though they trimmed 2021 growth slightly, to +5%. Markets are looking to the assessment of the risks ahead, especially with respect to the forever higher Aussie dollar. Here are the details… RBA SAYS BOARD WILL NOT INCREASE THE CASH RATE TARGET UNTIL PROGRESS IS BEING MADE TOWARDS FULL EMPLOYMENT, INFLATION TARGET 06-Aug-2020 19:30:47 – RBA FORECASTS Y/Y GDP AT -6% FOR JUNE, -6% FOR DEC, +5% DEC 2021, +4% DEC 2022 06-Aug-2020 19:31:00 – RBA SAYS BOARD IS COMMITTED TO DOING WHAT IT CAN TO SUPPORT JOBS, INCOMES AND BUSINESSES 06-Aug-2020 19:31:03 – RBA FORECASTS UNEMPLOYMENT 10% FOR DEC, 8.5% DEC 2021, 7% DEC 2022 more to come… AUD reaction The currency has been consolidating at the recovery and weekly highs in the 0.7230s into the release and events today, (China Trade Balance on the cards also),. The currency has … More to come… Meanwhile, the coronavirus cases mount Looking beyond, we are looking now for Assistant Governor Economic Luci Ellis’s speaking via an ABE webinar. Description the RBA Monetary Policy Statement The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures: Drop to lows after US Pres. Trump signs executive orders against WeChat, TikTok FX Street 2 years The Reserve Bank of Australia is releasing the full detail of its updated forecasts in the August Statement on Monetary Policy. This follows Tuesday's statement, whereby the Governor, Phillip Lowe, revealed that the forecast of -6%yr contraction by end 2020 has not changed, though they trimmed 2021 growth slightly, to +5%. Markets are looking to the assessment of the risks ahead, especially with respect to the forever higher Aussie dollar. Here are the details... RBA SAYS BOARD WILL NOT INCREASE THE CASH RATE TARGET UNTIL PROGRESS IS BEING MADE TOWARDS FULL EMPLOYMENT, INFLATION TARGET 06-Aug-2020 19:30:47 - RBA FORECASTS Y/Y GDP AT -6% FOR… 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.
