Reserve Bank of Australia Governor Lowe testifies before a parliamentary committee today.
Lowe appears before the Committee twice a year. He presents prepared comments, then faces a lengthy question-and-answer period.
His previous appearance was back in February this year. Much has changed since then, with a new government elected in Australia and the start of the RBA rate hike cycle among them.
Stay tuned to Lowe’s words – he is very unlikely to deviate from his previously indicated path to rein in inflation via further rate hikes. But, we can get an idea of the magnitude of the rate cuts to come. They’ve been 50bp each time in the last few meetings and going back to 25bp is a real possibility from the October meeting (that’s the next meeting, the 4th).