www.ratedetective.com.au
At its meeting today, the Reserve Bank of Australia decided to leave the cash rate unchanged at 3.00 per cent.
Press release following the decission looks identical to June press release:
- global economy is stabilising,
- growth in China has strengthened considerably,
- US economy is approaching a turning point,
- but conditions in Europe are still weakening
In Australia monetary policy has been eased significantly by:
- Weaker demand for labour = lower growth in labour costs
- A pick-up in housing credit demand = stronger dwelling activity
- House prices are tending to rise
- Business borrowing has been declining
- Mortgage rates are at very low levels by historical standards
- Business loan rates are below average.
The Board's current view is that the outlook for inflation allows some scope for further easing of monetary policy, if needed and thus the Board will continue to monitor economic and financial conditions.
If you enjoyed this post or found it useful, please consider posting a comment or 'Sharing' it using the button on the top left of the page.
0403 144 822
(08) 9300 0686
michael.cormack@aussie.com.au
Mike Cormack
Aussie Joondalup
0 Comments:
Post a Comment