Academics expect RBA to not raise interest rates

As the nation becomes gripped in its usual pre-budget speculation, academics are confident the Reserve Bank won't upset the apple cart with a change in interest rates in the interim.

The central bank board will meet on Tuesday, its last gathering before budget day itself on May 3 - brought forward by a week by Prime Minister Malcolm Turnbull to make room for a potential double dissolution election on July 2.

Expectations are that the RBA will hold the cash rate at two per cent for another month. It has been at this record low since May last year.

Australian National University's Timo Henckel says former Bank of England governor Sir Mervyn King famously wrote that 'a successful central bank should be boring'.

"The recent consensus in monetary policy, given the absence of major news about the Australian and overseas economies to inform policy makers, appears to be just that," Dr Henckel said on Monday.

Dr Henckel, who chairs the ANU's so-called "RBA shadow board" made up of academics, economists and former RBA board members, said the outlook for the Australian economy looks much the same as the previous month.

However, there is a broad spread of economic figures due for release on Monday covering inflation, retail spending, building approvals and job advertising.