The central bank's monetary policy statement is due 12:30pm HK/SIN. "An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than now forecast". "The higher exchange rate is expected to contribute to subdued price pressures in the economy", Mr Lowe said.
The Bank of England (BOE) rate meeting is the main release for the Pound in the week ahead.
Lowe also hoped that non-mining investment would start to rise and the high level of residential construction would remain stable for some time, but advised that there are still issues going around the retail sector. If correct, this will mean an entire year without change with the last movement occurring with a rate cut on 3 August 2016.
Indeed, at a recent speech at the Anika Foundation Luncheon in Sydney, RBA Governor Philip Lowe said that "the persistent slow growth in wages is creating a challenge for central banks".
The unemployment rate is expected to decline a little over the next couple of years. "Recent declines in the United States dollar and strengthening commodity prices have placed added pressure on the Australian dollar, which may reduce export demand". The economy is nearly out of the reversal of mining investment that had been weakening growth of late - another bonus.
US Lifts Ban on Laptop Computers on Incoming Foreign Flights
The threat has eased somewhat, the intelligence official said, in part due to the implementation of enhanced security measures . The ban included 10 airports in North African and Middle Eastern countries.
But monthly house price data yesterday from Corelogic showed that prices in Melbourne had risen by 3.1 per cent in July while Sydney prices jumped 1.4 per cent and Canberra was up 2.4 per cent. Brisbane prices fell but the average capital city price rise for the month was 1.5 per cent. Higher prices for electricity and tobacco are expected to boost CPI inflation.
And he did point to the disturbing trend that "growth in housing debt has been outpacing the slow growth in household incomes".
They're expected to show continued solid jobs growth in the United States with 180,000 new jobs created in July and a fall in the unemployment rate, coupled with subdued wages growth. But Dr Lowe noted that "a factor working in the other direction is increased competition from new entrants in the retail industry".
"Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time", the bank said.
Nicholas Gruen, CEO of Lateral Economics, was far more succinct when explaining why he believed rates would remain steady.