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RBA left interest rates unchanged

Tuesday, Jul 03 2018
RBA left interest rates unchanged

The Reserve Bank of Australia left rates on hold as widely expected and emphasized the uncertain outlook. Inflation is below target, private investment is soft, and domestic demand is weak. There are well-known international sources of uncertainty too like trade, and the outlook for the Chinese economy. The low level of interest rates is continuing to support the Australian economy.

Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual. 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.

More in this category: « US manufacturing jumps for a second straight month, construction spending rises UK construction output growth reaches seven-month high in June »

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