RBA left interest rates unchanged as expected

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Tuesday, Dec 05 2017

RBA left interest rates unchanged as expected

The Reserve Bank of Australia held its cash rate at a record low 1.50% on Tuesday as expected. The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

Wage growth remains low in most countries, as does core inflation. In a number of economies there has been some withdrawal of monetary stimulus, although financial conditions remain quite expansionary. Equity markets have been strong, credit spreads have narrowed over the course of the year and volatility in financial markets is low. Long-term bond yields remain low, notwithstanding the improvement in the global economy.The Australian dollar remains within the range that it has been in over the past two years. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.

More in this category: « Australian Retail Sales up by 0.5% UK Services PMI fell to 53.8 »

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