The Reserve Bank of Australia December monetary policy announcement
Summary headlines:
- says low rates supporting economy
- progress on unemployment, inflation expected to be gradual
- expect GDP growth to average around 3-1/2 % over two years
- housing markets have slowed in Sydney, Melbourne
- One continuing source of uncertainty is the outlook for household consumption
- growth in household income remains low, debt levels are high
- central scenario for inflation 2.25% in 2019, bit higher in 2020
- Terms of trade have been stronger than earlier expected
- labour market remains positive, further reduction in unemployment expected
- pick up in wage growth likely to be gradual
- Australian dollar remains within range seen in past two years
Full text:
Statement by Philip Lowe, Governor: Monetary Policy Decision
more to come
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Background:
- Final RBA meeting for 2018 due soon. Here's what they'll do! (spoiler ... nothing)
- A preview of the RBA announcement due today, trading the probabilities
- AUD traders - heads up preview for a 'no change' RBA meeting on Tuesday
- preview here (quick comments from ANZ)
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