The high risk that is involved with currency trading must be known to you. The Reserve Bank of Australia’s (RBA) quarterly Statement on Monetary Policy (SoMP) will be released on Friday, including updated economic forecasts … In its Statement on Monetary Policy (SMP), which will be released on August 9, the RBA is expected to lower its growth forecast for 2019 from 2.75% to 2.50% but retain its current forecast for growth in 2020 to be at trend 2.75%. As such, CPI forecasts are a better estimate of broad-based inflation changes over this period than TMI forecasts. The RBA updated its forecasts in the August Statement on Monetary Policy (SMP), as foreshadowed in the August policy decision statement. Investment objectives, risk appetite and the trader's level of experience should be carefully weighed before entering the Forex market. Following Tuesday's Board meeting, we do not expect the SMP to move the AUD much today. Key Quotes “GDP growth (to one decimal … Since the decision in November was part of a plan to allow time to assess the effects of the recent easing of monetary policy as well as global developments, no doubt the RBA’s observation that the low point in global pessimism may have passed is an important aspect of the current policy standing.”, “On balance, Westpac believes that its assessment that with the unemployment rate still well above the RBA’s target (4.5%) and the RBA seeing that there is a balance between the benefits and costs of lower rates, our view that 0.5% is the effective lower bound and that some transition to unconventional policies is likely is supported by this SMP.”, “The second point of interest in the SMP is around the RBA’s forecasts. unemployment rate to the nearest half point; wages and prices variables to the nearest quarter Reserve Bank raises growth forecasts RBA Statement on Monetary Policy Forecasts: The Reserve Bank hasn’t materially changed inflation forecasts but it has lifted economic forecasts over the near-term. The RBA, thankfully, takes the same approach which I believe is an under-appreciated reality by the punditry and commenteriat. Bill Evans, analyst at Westpac, notes that the RBA has cut its forecasts for growth and inflation to barely acceptable levels despite assuming two rate cuts as per market pricing in its May Statement on Monetary Policy (SMP). jo.type = 'text/javascript'; GDP is projected to record double-digit contraction in the first half of the year before recovery in 2021. Bill Evans, analyst at Westpac, notes that the RBA has cut its forecasts for growth and inflation to barely acceptable levels despite assuming two rate cuts as per market pricing in its May Statement on Monetary Policy (SMP). The Reserve Bank issues a Statement on Monetary Policy four times a year. The decision to cut rates on Tuesday appeared to be triggered by a lower starting point for inflation, rather than a shift in its “The RBA’s November SMP forecasts have been tested twice in the first week after publication. These statements have replaced the Semi-Annual Statements on Monetary Policy and the Quarterly Reports on the Economy and Financial Markets which were previously issued by the Bank. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. The Overview for the Statement, which we expect largely reflects the Governor’s own views, provides the most open analysis of policy options that we have seen.”, “Commentary on the current policy position signals that rates are almost certain to remain on hold at the December Board meeting. The second point of interest in the SMP is around the RBA’s forecasts. 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