Rates tipped to remain on hold this week, but RBA's language will be key
It's a big week for the Australian and global economy, with interest rate decisions from the RBA and the Federal Reserve and US voters going to the polls in a toss-up presidential election.
With a critical interest rate decision in Australia just ahead of the US presidential election and their own central bank rate call, it's going to be a critical week for markets and the future of the economy.
Here’s what you need to know about the key economic data releases this week.
Rate decision
What: Reserve Bank interest rate decision announcement, Statement on Monetary Policy and press conference
When: Wednesday 5 November 2024
What to expect: The Reserve Bank is almost certain to stay on hold on Tuesday with inflation still running hotter on an underlying basis than the 2% to 3% target band. Last week’s inflation data had the trimmed mean at 3.5% in the year to September, with the headline rate back under 3% largely due to government energy subsidies. This is very much what the RBA has been expecting to see.
