The RBA's decision will be dependent on economic drivers with an immediate impact, says Clive McDonnell, StanChart's Head of Equity Strategy.
Pimco's Robert Mead says the RBA is likely to cut rates on Tuesday or later this year.
Irrespective of a RBA rate cut, the Australian dollar looks well-supported, says Credit Suisse's senior FX strategist, KH Heng.
Bill Evans of Westpac expects the central bank to cut rates by a further 25 basis points at Tuesday's meeting.
Australia's housing market may be frothy, but it doesn't appear likely to be a bursting bubble anytime soon, this big broker indicates..
Australia is set to take the spotlight this week, with its central bank set to meet, while companies in the country begin reporting their earnings.
A high local dollar and low inflation should push the central bank to cut rates at Tuesday's policy review, says Mortgage Choice's John Flavell.
Asia markets were mostly higher on Monday, with Chinese mainland shares falling, as traders digested weak Chinese PMI data.
Weak 2Q GDP and poor consumer confidence are not supportive of a Fed rate hike till next year, says Compass Global Markets' Forex SVP, Tony Boyadjian.
The RBA has no reason not to cut rates at its next meeting this week, says Crestone Wealth's CIO, David Sokulsky.
The Nikkei rebounded from Tuesday's sell-off as most Asian markets waffled on Wednesday before key central bank decisions and major earnings reports.
CBA's Michael Blythe says Australia's Q2 CPI was in line with RBA expectations, and the central bank had mentioned that more rate cuts could come.
Australia's underlying inflationary pressures are still soft but are widely expected to pick up, says Urbis Chief Economist Nicki Hutley.
The headline figure will likely come in at 0.7 percent quarter-on-quarter, because of higher food, oil and apparel prices, says NAB's Ivan Colhoun.
The yen hit a high against the euro and rose against the dollar as traders lower expectations of a Japanese stimulus injection.
UBS WM's Wayne Gordon says the Fed might hike rates as soon as December because of improving U.S. data, which might lead to an unwinding of carry trades.
Asian central banks should be taking the opportunity to preemptively cut interest rates, says Barclays' Mitul Kotecha.
Australia faces the prospect of losing its vaunted AAA rating, after S&P Global Ratings lowered the outlook on the country's debt to negative.
The safe-haven yen hit a 3-1/2 year high against sterling on fears about the impact of Brexit.
The Japanese yen rose almost 1 percent against the euro and dollar while sterling fell to new long-term lows.