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RBA to stand pat as AUD struggles
Next week sees the RBA meet on May 4 followed by the Statement on Monetary Policy released on May 7. Recently, the meetings linked to the Statements have seen policy changes but this time around, all policy measures are expected to remain unchanged. While some central banks like the Bank of Canada have started on the road to normalisation, the RBA is expected to start a third round of QE in August in order to ultimately bring unemployment to around 4%. So any clues and shift in tone towards this change will be the focus, with the latest inflation report revealing that price pressures remain subdued amid ongoing virus ... (full story)