The minutes from the Reserve Bank board meeting should offer some more context behind the last interest rate hike.
The May interest rate increase threw many experts who expected the RBA board to keep the cash rate on hold following a pause in April and weakening inflation data for the March quarter.
The 25 basis point increase followed 10 hikes in a row starting from May last year as the central bank aims to tighten the screws on red-hot inflation.
Governor Philip Lowe has already spoken publicly since the May decision where he stressed the importance of returning inflation to target reasonably quickly.
He also said the board responded to signs of a tight labour market, persistent service inflation and changing asset prices by pulling the trigger on another hike.
Further rate increases will be highly data-dependent, with the bank set to digest new wage and jobs data this week.
The May consumer sentiment index from Westpac and the Melbourne Institute should also shed some light on public reaction to the latest lift in interest rates as well as the federal budget.
Also due on Tuesday is overseas arrivals and departures data from the Australian Bureau of Statistics.
© AAP 2023
