RBA minutes: Recent modest fall in AUD helpful for domestic economy
|The Reserve Bank of Australia (RBA) published the minutes of its September 4 monetary policy meeting on Tuesday, with the key headlines found below.
Recent modest fall in AUD helpful for the domestic economy
Recent modest fall in AUD helpful for the domestic economy.
Board agreed no strong case for near-term move in interest rates.
Next move in rates likely to be upward if economy develops as expected.
RBA to be source of stability and confidence amid gradual progress to targets.
Significant global trade tensions a "material risk" to the outlook.
Board saw Australian GDP growth above potential over next couple of years.
Labour market positive, board noted marked decline in youth unemployment.
Foresaw above-average growth in jobs, jobless rate to fall gradually toward 5 pct.
Liaison pointed to modest increase in wages growth in coming quarters.
Drought expected to lower farm production, exports in 2h of year.
Mortgage hikes by banks implied "small rise" in average outstanding home loan rate.
Home price falls in Sydney, Melbourne more widespread across suburbs, price sectors.
Liaison with housing developers showed off-plan apartment sales had fallen.
Board discussed strains in emerging markets including turkey and Argentina.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.