Daily Commentary BY THE CURVE TEAM –

RBA the Focus

15th of June, 2021

Key updates from the RBA this week will be scrutinised.

Minutes from the June meeting start the week off, which are released today. This is followed by an address from Governor Lowe on Thursday.

Both are significant as they mark the main two updates from the RBA prior to the July meeting. The RBA have actively been attempting to minimise volatility and help markets function smoothly since the pandemic began.

Given this, the RBA could use the final two updates to set market expectations for what is to come, rather than having the July meeting deliver any surprises.

Also, this week is the latest employment data for May, released on Thursday. There was a hiccup in employment in April with employment falling.

It is unclear whether this was from seasonal effects or the end of JobKeeper. The latest figures will give more of an indication of what the trend in employment is.

Josh Stewart

Associate - Money Markets