Tuesday preview: RBA policy announcement, IHG results due

(Sharecast News) - Tuesday will bring first-half results from Genuit and InterContinental Hotels and a trading update from housebuilder Bellway. As far as IHG is concerned, Bloomberg consensus is for pre-tax profit of $560.1m, total revenue of $1.26bn and an interim dividend per share of 63 cents.

Investors will also eye half-year results from Spirax Group and IWG, while across the pond, quarterly results from Super Micro will be released.

The latest policy announcement from the Reserve Bank of Australia will be in focus amid expectations it will keep the cash rate at 4.35%.

Danske Bank said: "After three rate hikes during the spring, RBA is unlikely to tighten its policy rate much further in the coming meetings either."

ING said: "Inflation surprised decisively to the downside in the second quarter," it noted. "Headline CPI eased to 3.9% year-on-year, well below the RBA's 4.8% forecast, driven by softer housing and transport costs. While services increased to 4.0% YoY, the RBA's preferred trimmed mean CPI series fell below its estimate of 3.8% YoY. It stands at 3.6% YoY, suggesting underlying prices continue to moderate gradually.

"Collectively, price pressures are easing faster than the RBA envisaged, strengthening the case for an extended hold through year-end."