The Reserve Bank of Australia announcement and statement from Governor Lowe is at 0430GMT.
Quick commentary from ASB, also expecting more in July, not tomorrow:
- The next decisions for the Reserve Bank of Australia will be whether to continue to target the April 2024 bond or whether to switch to the November 2024 bond and whether to extend the asset purchase program. The RBA has flagged that these decisions will be announced at the July Board meeting. As a result, the June meeting should be fairly quiet with no changes made to monetary policy settings.
- Note that CBA expect the RBA keep the yield curve target pegged to the April 2024 bond and to extend the asset purchase program by another $A50bn over six months.