RBA keeps rates unchanged, statement disappoints hawks
|The RBA has decided to keep its interest rate unchanged at 1.5%, with the policy statement still remaining fairly neutral, which is a disappointment for a market that was cetainly expecting a more upbeat tone following the recent coordinated shift by the BOE, BOC and ECB.
The RBA statement read: "Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time."
With regards to the current level of rates and the value of the Aussie, the RBA added: "The outlook continues to be supported by the low level of interest rates. The depreciation of the exchange rate since 2013 has also assisted the economy in its transition following the mining investment boom. An appreciating exchange rate would complicate this adjustment."
Key headlines
RBA says judged steady policy consistent with growth, inflation targets
RBA says house prices rising briskly in some markets
RBA says indicators of labour demand remain mixed
RBA says employment growth has been stronger over recent months
RBA says some signs housing market starting to cool
RBA says housing debt has outpaced slow growth in incomes
RBA says supervisory measures should help address debt risks
RBA says supervisory measures should help address debt risks
RBA says rising a$ would complicate economic adjustment
RBA says economic outlook supported by low rates
RBA says wage growth remains low, likely to continue for a while yet
RBA says inflation expected to increase gradually as the economy strengthens
RBA says slow growth in real wages is restraining growth in household consumption
RBA says business conditions, investment have picked up
RBA says broad-based pick-up in global economy continuing
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