BoJ and RBA Set to Maintain Rates Amidst Mixed Inflation Data
The Bank of Japan (BoJ) will release its Summary of Opinions from the July 31st meeting, where it kept rates unchanged at 1.00%. The decision was made by an 8-1 vote, with board member Takata dissenting and proposing a 25bps hike. Attention will be on the degree of support for further near-term tightening among other Board members.
The BoJ's updated Outlook Report slightly raised its real GDP forecasts for FY26 and FY27, while lowering its core CPI estimate for FY26 and raising it for FY27. The central bank will also release its quarterly Statement on Monetary Policy, including its latest economic projections, at the Reserve Bank of Australia (RBA) meeting.
The RBA is expected to keep rates unchanged at 4.35% with a 99% probability that the Cash Rate will be maintained at the current level. The central bank will also release its quarterly Statement on Monetary Policy, including its latest economic projections.