Philip Lowe set to explain the dovish RBA stance

Wednesday 3rd February 2021All eyes and ears will be on Philip Lowe’s speech today, following the very dovish outlook from the RBA yesterday. Despite our expectation on yesterday’s podcast that they would taper their QE program, NAB’s Rodrigo Catril explains how they are extended it by another $100 billion, even though the economy is doing well and the fiscal position is improving. It was a big surprise, he says. In other news, the markets have returned to whatever is normal these days, as the influence of Redditt day traders subsides, for now. There are lots of services PMI numbers today which will give a good indication of how Europe, China, the UK and USA are travelling.

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