Forex News 24
  • RSS

news

RBA Minutes: Steady Growth Continues For Australia Economy

RBA Minutes: Steady Growth Continues For Australia Economy
админ
20/02/2018

80570f7d9707281e63586b12e11419ef - RBA Minutes: Steady Growth Continues For Australia Economy

Members of the Reserve Bank of Australia’s Monetary Policy Board said that the country’s economy was continuing to expand as expected, minutes from the bank’s February 6 meeting revealed on Tuesday.

The economic data, both in Australia and among its major trading partners, has been broadly positive, the bank added.

The inflation outlook remains steady for the near term, although the bank noted that an appreciating exchange rate could slow CPI growth.

“In considering the stance of monetary policy, members noted that the flow of data since the previous meeting, for both the international economy and Australia, had been generally positive. Conditions in the global economy had continued to improve,” the minutes said.

At the meeting, the RBA maintained its benchmark cash rate at 1.50 percent. The bank had reduced the rate by 25-basis points each in August and May last year.

Taking account of the available information, the RBA 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 bank hinted that interest rates are unlikely to rise anytime soon. The low level of interest rates is continuing to support the Australian economy, RBA said.

“Financial market pricing suggested that market participants expected the cash rate to remain unchanged during 2018, but had priced in a 25 basis point increase by early 2019,” the minutes said.

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

The RBA pointed out the outlook for household consumption as one continuing source of uncertainty. Household incomes are growing slowly and debt levels are high.

“Domestically, business conditions had improved over 2017 but growth in consumption had continued at a relatively modest pace, constrained by low household income growth despite stronger-than-expected employment growth and a decline in the unemployment rate over 2017,” the minutes said.

Source

Related ItemsAustraliaAustralian economyCPIdebteconomiceconomyinflationinterest ratesmarketmarket participantsmonetary policyrateratesRBAReserve Bankrisetrading

Leave a Reply

Cancel reply

Your email address will not be published.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

Anti-spam: complete the taskWordPress CAPTCHA


news
20/02/2018
админ
Related ItemsAustraliaAustralian economyCPIdebteconomiceconomyinflationinterest ratesmarketmarket participantsmonetary policyrateratesRBAReserve Bankrisetrading

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.

Berlin To Host BlockShow Europe 2018 In May
European Economics Preview: Germany’s Economic Sentiment Data Due