FXStreet reports that Lee Sue Ann, Economist at UOB Group, suggested the RBA is likely to leave the monetary conditions unchanged at the July 7 event.

“The RBA decided to maintain the OCR at 0.25% and the 3-year Australian Government securities (AGS) yield target at 0.25% in June. We do not see further reductions in the OCR. In fact, it is likely the RBA will keep it on hold for an extended period”.

“The focus will thus remain firmly on end-user rates via the yield curve target, as well as ensuring sufficient liquidity in bond markets and the free flow of credit to households and business.”