Reserve Bank of Australia (RBA) Deputy Governor Speech is always closely monitored by analysts, as it may contain information about the expected change in the bank's interest rates. This official is also responsible for controlling the RBA's operations in the domestic and global financial markets.
The Deputy Governor often speaks in public: in addition to regular speeches, he participates in international economic forums, speaks at congresses and conferences, and announces RBA's official statements in some cases.
The RBA's Deputy Governor has access to the full information about the Board's intentions regarding the monetary policy and the opinions of its separate members.
If the Deputy Governor's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the Australian dollar quotes. Positive characteristics of the Australian labor market or inflationary growth statements contained in the speech can also be seen as positive for the national currency quotes. All these factors can give investors a hint of a near-term increase in the RBA's interest rate.