BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Australia’s central bank is moving closer to publishing unattributed votes from its Monetary Policy Committee (MPC) when consensus isn't reached, a key step in boosting transparency. The Reserve Bank of Australia (RBA) and the federal government are aligning on this reform, which stems from a 2023 independent review of the RBA's operations.
Governor Michele Bullock and Treasurer Jim Chalmers met in Sydney last week to finalize discussions on this measure. According to a Treasury statement, both the government and the RBA support the proposal, agreeing that publishing an unattributed record of votes will apply only in cases of non-consensus. A final decision is expected at the RBA Board’s meeting on July 7-8.
The MPC includes six external members appointed by the treasurer, along with three internal members: the RBA governor, deputy governor, and the treasury secretary. The review had recommended more transparency in decision-making, particularly around interest rate decisions and board deliberations.
The RBA has already enacted most of the suggested reforms, including restructuring the board into two separate bodies—one for monetary policy decisions and another for governance and operations. Earlier this year, two new members joined the rate-setting board, strengthening its diversity and expertise.
This latest step aligns the RBA more closely with international central banking norms, where vote disclosures are common practice. The move aims to build public trust, enhance accountability, and clarify monetary policy direction for markets.
The outcome of the July meeting could mark a turning point in how the RBA communicates its policy decisions, especially at a time when rate guidance remains critical for managing inflation and economic growth.
