AM Notes: No change for RBA

Not much going on overnight: risk sentiment looking a tiny bit negative, and USD in demand but nothing overly concerning.

Japan & China markets remain closed.

RBA: Growth forecasts upgraded, no hints of policy change

• The Bank's central scenario for GDP growth has been revised up further, with growth of 4¾ per cent expected over 2021 and 3½ per cent over 2022.
• A pick-up in business investment is expected and household spending will be supported by the strengthening in balance sheets over the past year.
• The unemployment rate is expected to continue to decline, to be around 5 per cent

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Tim Vollans

• Spain

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