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Analysts at TD Securities explained that after a non-event on-hold-at-1.5% policy statement, speech and Statement on Monetary policy, it’s now semi-annual testimony time.  

Key Quotes:

“RBA Gov Lowe’s previous semi-annual testimony in February didn’t offer anything controversial (August 2017 testimony was more interesting, referring to low wages growth at 2%/y and a too-high exchange rate).”

“The quality of the testimony is up to the calibre of the questions (from politicians).”

“Expect questions about US-led trade wars and the slowing housing market. Perhaps some discussion on the spreading drought since the Bank added that in its 7 August policy statement.”