Australia’s central bank is widely expected to hold interest rates at a 12-year high at its first meeting of the year, with investors zeroing in on the future path of policy under a revamped communications regime.

Economists unanimously expect the Reserve Bank will keep its cash rate at 4.35% and probably maintain a hawkish stance given inflation, while cooling, is still elevated. As part of an overhaul, the meeting begins Monday with the decision announced at 2:30pm on Tuesday, when updated forecasts will also be released, followed by the governor’s press conference at 3:30pm.