RBA monetary policy board meeting today

The RBA meets (12:30HKT). The ensuing SOMP may also reveal a set of forecasts little changed from May's offering, although this would mask some significant shifts in some key determinants of growth. 

"We doubt the postmeeting statement will change much," says RBC Capital Markets.

On the upside, the exchange rate and oil prices are lower, albeit so are terms of trade. Population growth projections may also be lowered. So headline numbers may be little changed, but the context may be one of heightened uncertainty. Volatility in China adds to this theme. Employment data are out on Thu (cons 10.0K; 6.1%).