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RBA Statement by Philip Lowe, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy are continuing to improve. Labour markets have tightened further and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Commodity prices have risen recently, although Australia's terms of trade are still expected to decline over coming years. Wage growth remains low ... (full story)
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RBA leaves cash rate on hold in September
THE Reserve Bank has kept the official cash rate on hold at its record low of 1.5 per cent for the 13th month in a row, amid growing signs of a housing market slowdown. The RBA last cut the cash rate in August 2016, following an earlier cut to 1.75 per cent in May. There has not been an official cash rate increase since November 2010. “Conditions in the housing market continue to vary considerably around the country,” RBA Governor Philip Lowe said in his statement. “Housing prices have been rising briskly in some markets, although there are signs that conditions are easing, especially in Sydney. In some other ... (full story)
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