RBA’s Bullock: No Forward Guidance on Next Week’s Rate Decision

Bullock's refusal to signal is itself the signal: the RBA is deliberately keeping optionality rather than anchoring expectations, which shifts the burden of interpretation onto incoming data between now and the decision. For rate-sensitive sectors — housing, credit, and the currency — the practical effect is a wider band of plausible outcomes priced in advance, and more scope for repricing once the decision lands. Whether this communication style persists beyond the upcoming meeting is the open question.