Nomura Research discusses its expectations for next week's RBA policy meeting.

"We expect the RBA governor’s press release to: i) announce a 25bp hike; ii) contain mixed macro comments; and iii) provide less hawkish forward guidance," Nomura notes. 

"On the macro side, we think the key recent developments have been stronger-than-expected growth and inflation data in Europe and the US, but local data that suggest a growing loss of momentum and evidence that inflation pressures have peaked. We expect comments on the global side to be more upbeat. It could note that recent data suggest the outlooks for Europe, the US, and China have brightened somewhat," Nomura adds.