The Australian central bank is expected to keep the cash rate unchanged at 4.35% at today's meeting. Considering that inflation remains well above the RBA's threshold range, there is no reason to take their foot off the gas pedal just yet.
In terms of language, don't expect much of a change to what we saw previously in May here.
The RBA is likely to want to continue to keep their options open, thus reaffirming that they are "not ruling anything in or out" at this stage. It's all about keeping the flexibility.
As mentioned yesterday, traders are not looking for much else until at least December. That's still eons away, so the decision today should have minimal impact to the aussie currency.
