Reserve Bank of Australia has left rates on hold today
Full text of the governor's statement, here: Statement by Glenn Stevens, Governor: Monetary Policy Decision
- RBA says appropriate to hold rates steady for time being
- Sees growth continuing at below trend pace
- Sees domestic demand growth quite weak
- Says further easing might be appropriate in future
- Will assess case for easing at forthcoming meetings
- Says subdued labor cost growth to keep overall inflation in target
- Says further fall in A$ to be needed to balance growth
Note the final paragraph in the accompanying statement (bolding mine)
At today's meeting the Board judged that, having eased monetary policy at the previous meeting, it was appropriate to hold interest rates steady for the time being. Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target. The Board will further assess the case for such action at forthcoming meetings.
That's an easing bias.
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Dear of dear ... did y'all see the AUD moving higher before the announcement ... looks like an early leak to me
