Forex News 24
  • RSS

news

RBA Minutes: Australia Economy Tipped To See Gradual Growth

RBA Minutes: Australia Economy Tipped To See Gradual Growth
админ
17/04/2018

d3e9970a31e2e60f2870d396906da69e - RBA Minutes: Australia Economy Tipped To See Gradual Growth

Members of the Reserve Bank of Australia’s Monetary Policy Committee said that the Australian economy is expected to see continued gradual growth, minutes from the central bank’s April 3 meeting revealed on Tuesday.

The country’s inflation rate is also expected to pick up gradually, the bank said, while global economic conditions remain positive.

As a result, the bank said that the next move for its benchmark lending rate was likely to be an increase rather than another cut.

“Members agreed that it was more likely that the next move in the cash rate would be up, rather than down. As progress in lowering unemployment and having inflation return to the midpoint of the target was expected to be only gradual, members also agreed that there was not a strong case for a near-term adjustment in monetary policy,” the minutes said.

The bank noted that the low level of interest rates is continuing to support the Australian economy.

The RBA’s central forecast remains for faster growth in 2018. However, one continuing source of uncertainty is the outlook for household consumption, the bank said. Household income has been growing slowly and debt levels are high.

According to the RBA, inflation is likely to remain low for some time, but a gradual pick-up is expected as the economy strengthens. The central forecast is for CPI inflation to be slightly above 2 percent in 2018.

“Members noted that an appreciation of the Australian dollar would be expected to result in a slower pick-up in economic activity and inflation than forecast,” the minutes said.

At the meeting, the central bank kept its key interest rate unchanged at a record low 1.50 percent for the 20th straight month.

The bank had reduced the rate by 25-basis points each in August and May last year.

“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,” the minutes said.

by

Source

Related ItemsAustraliaAustralian dollarAustralian economyCPIdebteconomiceconomic activityeconomyglobal economicinflationinterest rateinterest ratesmonetary policyrateratesRBAReserve Bank

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
17/04/2018
админ
Related ItemsAustraliaAustralian dollarAustralian economyCPIdebteconomiceconomic activityeconomyglobal economicinflationinterest rateinterest ratesmonetary policyrateratesRBAReserve Bank

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

U.S. Homebuilder Confidence Unexpectedly Edges Lower In April
China’s first-quarter economic growth beats expectations on firm consumption, property sector