The Reserve Bank of Australia is expected to keep monetary policy unchanged. At the same time, traders will focus on the central bank’s statement, which may contain important comments on how the RBA estimates the outlook for Australian economy and what it plans to do next.
Minutes of the last meeting showed that the regulator could be inclined to raise interest rates sooner than many in the market might expect. However, the RBA is very nervous about growing household debt, which may result in lower consumer spending. Governor Philip Lowe has recently expressed concerns about the high value of Aussie.
Taking all of this into account, market players will closely watch the release of the RBA statement at 07:30 MT time on September 5. Australian dollar is expected to make significant moves ahead of and after the event.