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- The Reserve Bank meets on Tuesday, where it is universally expected to keep monetary policy and its policy guidance unchanged. In recent communications, the RBA has emphasised that it judged its package of monetary stimulus as appropriate, where cheaper borrowing rates would help support the recovery. That said, the RBA stressed it remains willing to do more "if circumstances warrant". The RBA has also highlighted the important and continuing role for fiscal policy, which is best able to support the economy through the pandemic-driven collapse in demand. We expect the RBA to echo similar thoughts in its September post-meeting statement.