Economic calendar in Asia Friday, 10 November 2023: RBA’s Statement on Monetary Policy

There is not a lot on the data agenda for the session ahead, the Reserve Bank of Australia statement will be the focus although it shouldn’t move the AUD too much upon release. The Statement on Monetary Policy (SoMP) will update economic forecasts and the Bank’s assessment on the balance of risks to the outlook on the economy and inflation,

The RBA’s Statement on Monetary Policy.

• It outlines the bank’s views on domestic and international economic conditions.
• also provides an analysis of the bank’s policy decisions and an outlook for inflation and output growth.
• It typically includes:
  • An overview of the global and domestic economic situation, which incorporates various factors such as growth, inflation, employment, and monetary and fiscal policies of key countries.
  • Information about financial markets, which details changes in asset prices, exchange rates, and monetary policy settings worldwide.
  • Domestic economic conditions, which provides a comprehensive analysis of key indicators including GDP, consumer spending, business investments, the labor market, and housing market.
  • Forecasts for domestic economic activity and inflation, typically for a period of two years ahead. And an assessment of the balance of risks surrounding these forecasts.

The Statement is released quarterly.