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RBA set to hold rates today, but markets will be watching the fine print
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Earlier:---The RBA hold is not in doubt today, but the forecast revisions and Board commentary will tell markets far more about where rates go next.
Summary:The RBA is widely expected to leave rates on hold at today's meeting, with the decision due alongside updated forecasts in the August Statement on Monetary Policy.
Attention instead is centred on the updated economic forecasts and communication that will accompany the decision.
Alongside the rate call, the RBA will release fresh forecasts for growth, unemployment and inflation in its quarterly Statement on Monetary Policy.
Unemployment has come in higher than the RBA expected, printing at 4.4% in two of the three months of the June quarter against a prior forecast of 4.2%.