RBA: Board expects to increase interest rates further over the period ahead
|Following are the key headlines from the December RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe.
Board resolute in determination to return inflation to target, will do what is necessary to achieve that.
Board expects to increase interest rates further over the period ahead.
Inflation in australia is too high.
Board closely monitoring the global economy, household spending and wage and price-setting behaviour.
Size and timing of future increases determined by data and outlook for inflation and labour market.
A further increase in inflation is expected over the months ahead.
Australian economy is continuing to grow solidly.
Board is not on a pre-set course.
Labor market remains very tight.
Household spending is expected to slow over the period ahead.
Path to achieving the needed decline in inflation and achieving a soft landing for the economy remains a narrow one.
Board’s priority is to re-establish low inflation and return inflation to the 2–3 per cent range over time.
About RBA rate decision
RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
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