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

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