• Interest rate in Australia is set to stay steady at 4.35% for the fifth consecutive meeting in May.
• Reserve Bank of Australia Governor Michele Bullock will hold a press conference at 05:30 GMT.
• The Australian Dollar could see a big reaction to RBA’s policy statement and Bullock’s words.

The Reserve Bank of Australia (RBA) is unlikely to give into the pressure of a dovish policy pivot, as adopted by the Bank of Canada (BoC) and the European Central Bank (ECB) when it concludes its policy meeting on Tuesday.

The RBA is set to keep the Official Cash Rate (OCR) unchanged at 4.35% for the fifth meeting in a row in June. The decision will be announced at 04:30 GMT, while Governor Michele Bullock’s press conference will follow at 05:30 GMT.