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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 1.50 per cent. The global economic expansion is continuing. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. Growth in China has slowed a little, with the authorities easing policy while continuing to pay close attention to the risks in the financial sector. Globally, inflation remains low, although it has increased in some economies and further increases are expected given the tight labour markets. One uncertainty regarding the global outlook stems from the direction of international trade ... (full story)
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RBA leaves cash rate on hold for two years
THE Reserve Bank has kept the official cash rate on hold for two years running at its August meeting, extending the longest ever streak without a change. The RBA last cut the cash rate to its record low of 1.5 per cent 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. It comes after data released by research firm CoreLogic showed national house prices fell at the fastest pace since 2012 in the year to July to land 1.9 per cent below their September 2017 peak. “The steady rate setting has a lot to do with stubbornly low inflation, ... (full story)
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