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Statement by Philip Lowe, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently. The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the uncertainty. At the same time, in most advanced economies unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken steps to support the economy while ... (full story)
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RBA: Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. https://t.co/LNb4TuT5Ci
— Anthony Barton (@ABartonMacro) December 3, 2019
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RBA: SAYS NEW HOME CONSTRUCTION HAS WEAKENED
— RedboxGlobal (@RedboxWire) December 3, 2019
-- SAYS INFLATION TO PICK UP ONLY GRADUALLY
--GLOBAL EXPECTATIONS OF FURTHER MONETARY EASING HAVE GENERALLY BEEN SCALED BACK
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RBA: LOW RATES, TAX CUTS, INFRASTRUCTURE SPENDING, UPSWING IN HOUSING PRICES AND A BRIGHTER RESOURCE SECTOR OUTLOOK SHOULD ALL SUPPORT GROWTH.
— RedboxGlobal (@RedboxWire) December 3, 2019
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#RBA :
— DailyFX Team Live (@DailyFXTeam) December 3, 2019
- Reasonable to expect rates to remain low for an extended period
- Prepared to ease monetary policy further if needed
- Inflation to be close to 2% in 2020 & 2021
- Rates have put downward pressure on the exchange rate#AUD
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