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RBA left interest rates unchanged

Tuesday, Mar 01 2016
The Reserve Bank of Australia kept the cash rate unchanged again today at two per cent — where it has remained since May — leaving interest rates at historically low levels. In the following statement it was said that inflation is quite low. "With growth in labour costs continuing to be quite subdued as well, and inflation restrained elsewhere in the world, inflation is likely to remain low over the next year or two. The exchange rate has been adjusting to the evolving economic outlook." 
 
"Over the period ahead, new information should allow the Board to judge whether the improvement in labour market conditions is continuing and whether the recent financial turbulence portends weaker global and domestic demand. Continued low inflation would provide scope for easier policy, should that be appropriate to lend support to demand," it was concluded.
 
Aussie is currently being traded around 0.7150 area. Pair is likely to find support around 0.7080 handle and resistance above 0.7180 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.
More in this category: « China's Manufacturing PMI at a seven-month low Spanish Manufacturing PMI up, Italian PMI fell in February »

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