From the RBS shadow.
In 2024, the Board of the Reserve Bank of Australia (RBA) meets to decide on a target for the cash rate on the following dates:
• 6 February 2024
• 19 March 2024
• 7 May 2024
• 18 June 2024
• 6 August 2024
• 24 September 2024
• 5 November 2024
• 10 December 2024
This decision is highly significant for the wider economy and is therefore closely monitored by the financial markets.
The CAMA RBA Shadow Board, consisting of nine voting members and one non-voting chair, all distinguished macroeconomists, offers its own policy recommendation on the Monday before the official RBA decision.
Members give probabilistic assessments of the appropriate target rate for each round, which are then aggregated. The higher the percentage attached to a given cash rate, the greater the confidence that this rate is the appropriate target.
Besides, the Shadow is occupied by too many embittered and abandoned economists, and it usually seeks to make publish households for their failed career,
I take this as as good signal that the RBA will hold today.
