The minutes from the Reserve Bank board assembly ought to supply some extra context behind the final rate of interest hike.
The May rate of interest improve threw many specialists who anticipated the RBA board to maintain the money charge on maintain following a pause in April and weakening inflation knowledge for the March quarter.
The 25 foundation level improve adopted 10 hikes in a row ranging from May final yr because the central financial institution goals to tighten the screws on red-hot inflation.
Governor Philip Lowe has already spoken publicly because the May determination the place he confused the significance of returning inflation to focus on moderately shortly.
He additionally mentioned the board responded to indicators of a decent labour market, persistent service inflation and altering asset costs by pulling the set off on one other hike.
Further charge will increase shall be extremely data-dependent, with the financial institution set to digest new wage and jobs knowledge this week.
The May client sentiment index from Westpac and the Melbourne Institute also needs to shed some gentle on public response to the most recent raise in rates of interest in addition to the federal finances.
Also due on Tuesday is abroad arrivals and departures knowledge from the Australian Bureau of Statistics.
Source: www.perthnow.com.au
