RBA minutes: Would consider further policy easing if needed to support growth, inflation targets – AUD tests lows

The Reserve Bank of Australia (RBA) published the minutes of its September 3rd, 2019 monetary policy meeting on Tuesday, with the key headlines found below.  

Board would consider further policy easing if needed to support growth, inflation targets.

Reasonable to expect extended period of low interest rates to achieve employment, inflation goals.

Members would assess developments globally and at home when considering monetary policy.

Members had detailed discussion on ways financial conditions abroad affect Australia.

Recent outcomes suggest spare capacity remained in the labor market.

Australian economy could sustain lower rates of unemployment and underemployment.

Liaison with retailers suggested govt tax rebates yet to lift spending noticeably.

Further signs of turnaround in established housing market, but turnover still low.

See near-term weakness in high-density dwelling investment, could "sow the seeds" of price upswing at some point.

Further gradual lift in wages growth would be a welcome development.

Outlook for consumption growth key uncertainty.

Expect gradual pick-up in household disposable income, higher home prices to support consumption growth.

Further monetary easing "widely expected" around the world.

Escalation in Sino-US trade dispute has intensified downside risks to global growth.

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News