Reserve Bank of Australia Interest Rate decision 03.04.2018
- 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.
- Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing.
- A gradual pick-up in inflation is, however, expected as the economy strengthens.
- The central forecast is for CPI inflation to be a bit above 2 per cent in 2018.
- An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.
- The Chinese economy continues to grow solidly, with the authorities paying increased attention to the risks in the financial sector and the sustainability of growth.
- Monetary policy statement
AUDUSD virtually unmoved since the decision and statement at 0.7686