FX

RBA expected to keep a steady hand – UOB

Economist at UOB Group Lee Sue Ann comments on the imminent RBA meeting.

Key Quotes

“We see core inflation returning to the RBA’s target band by early 2023 but wage growth not reaching 3% until much later in 2023.”

“With the RBA reiterating that inflation would need to sustainable be in the target band, and allowing for it to take some time to make such an assessment, we see some risk of a rate rise in late-2032 but more likely for the first hike to occur only in 2024.”

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