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Minutes of the Monetary Policy Meeting of the Reserve Bank Board
Members commenced their discussion of international economic developments by noting that momentum in the global economic recovery had eased in recent months. The global recovery also remained uneven, reflecting cross-country differences in policy support and vaccination rates. However, by year end, output in many economies was expected to have recovered to, or surpassed, pre-pandemic levels. In countries with high vaccination rates, the recovery had been supported by the lifting of restrictions on mobility in recent months; rates of hospitalisation and recent deaths were relatively low despite an increase in case ... (full story)
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RBA Minutes: Central Scenario Is For Rates On Hold Until 2024
— LiveSquawk (@LiveSquawk) September 21, 2021
- GDP Expected To Decline Materially In September Quarter
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RBA September meeting minutes - see no rate rise until 2024
Reiterating ... as did Low in his most recent public comments last week: • central scenario is conditions for rate rise will not be met until 2024 • board committed to maintaining highly supportive monetary conditions • outbreak of the delta variant had delayed, but not derailed, the recovery • economy was expected to bounce back as vaccination rates increase and restrictions are eased • board will continue to review the bond purchase program in light of economic conditions and the health situation • considerable uncertainty about the timing and pace of the recovery, which was likely to be slower than ... (full story)
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