No rate change expected for this afternoon's RBA announcement

It won't come as much of a surprise that the Reserve Bank is unexpected to move this afternoon.

Yesterday's ANZ Monday Morning Note said the following:

"On Tuesday, we expect retail sales to have strengthened further in October while the RBA is also widely expected to leave the cash rate unchanged at 2.50%."

Commonwealth Bank of Australia's Craig James had this in his Monday note:

"The Reserve Bank would be justifiably content with the latest batch of economic data. There is nothing to suggest that official interest rates need to budge from current levels. And the tame reading on home prices will defuse some of the worries about a potential ‘bubble” developing."

The Twittersphere has also been fairly unanimous in expecting nothing to occur.

Reserve Bank of Australia (RBA) meeting Tuesday - no change expected https://t.co/cKC8Wt4dXv

— ForexLive (@ForexLive) December 2, 2013

14 economists agree RBA will not cut the cash rate at its next board meeting; Rural Bank Weekly Economic Commentary - https://t.co/2aYQl1gqW8

— Rural Bank TASMANIA (@RuralBankTAS) December 2, 2013

Will the RBA move the cash rate tomorrow? The #ASXRBARateIndicator shows the market's expectation for change: https://t.co/w8vwaM77Kd

— ASX (@ASX) December 1, 2013