RBA monetary policy decision 06.02.2018
- Inflation likely to remain low for some time
- Mostly same lines as per previous
- Australian economy expected to grow around 3 pct in medium term
- low level of interest rates continuing to support the Australian economy
- household consumption remains a source of uncertainty
- the labour market continues to strengthen
- the unemployment rate expected to decline gradually
- Forward Indicators Points To Solid Growth In Employment
- wage growth is to remain low for some time, pick up gradually
- nationwide house prices little-changed over past six months
- reports some employers finding it difficult to hire workers with necessary skills
- central forecast for CPI to be a bit above 2 pct in 2018
- Further progress on unemployment, inflation, likely to be gradual
- Tighter Credit Standards Have Helped Contain Household Risks
- On a trade-weighted basis, 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. (Nothing dovish here)
- Here’s the link to the RBA press release
AUD continues to lose ground, still on the back of the weaker retail sales , trade balance and falllng equity markets then. AUDNZD under 1.0800 now.
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