From Google: 2024-08-05 13:49:05

The Reserve Bank of Australia (RBA) is set to make a rate decision, with analysts predicting a hold at 0.1%. Inflation rate is expected to rise to 3.0% in August, prompting speculation of a potentially hawkish tone from RBA. GDP growth forecast remains at 0.5% for third quarter.

Investors are closely watching the RBA rate decision following recent economic data. The Australian dollar is expected to be volatile during and after the announcement. Expectations are for the RBA to maintain its dovish stance despite rising inflation. Unemployment rate remains steady at 4.6%.

The RBA decision will have implications for the Australian dollar and other financial markets. Analysts are anticipating a cautious approach from RBA in response to rising inflation. Any deviation from current policy could lead to market volatility. Economic recovery remains uncertain amidst ongoing pandemic challenges.



Read more at Google: Reserve Bank of Australia (RBA) Rate Decision Preview (AUG 2024) – FOREX.com US