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RBA left interest rates unchanged

Tuesday, Sep 06 2016

At its meeting today, RBA decided to leave the cash rate unchanged at 1.50 per cent. In Australia, recent data suggest that overall growth is continuing, despite a very large decline in business investment, helped by growth in other areas of domestic demand and exports. Labour market indicators continue to be somewhat mixed, but suggest continued expansion in employment in the near term.

Inflation remains quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time. Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector. Financial institutions are in a position to lend for worthwhile purposes. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this.

 

Aussie is currently being traded around 0.7630 area. Pair is likely to find support around 0.7550 and resistance above 0.7650 area.

More in this category: « Australian Current Account deficit at $15.5 billion German Factory Orders increased by 0.2% »

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