As expected, the Reserve Bank of Australia has left the cash rate unchanged, at 1.5%
Headlines via Reuters:
- Rising AUD could complicate economic transition
- Global economy conditions have improved over recent months
- Labour indicators have been mixed
- Inflation expected to remain low for some time
- Says Chinese economy stronger over H2 2016
- House prices rising briskly in some markets
- Medium-term risks to China growth remain
- Inflation forecasts are largely unchanged
- Says higher commodity prices have supported a rise in Australia's terms of trade
- RBA says CPI expecting to pick up over 2017 to be above 2pct
- Says US rates have risen, no longer expectation of further monetary easing in other major economies
- Return to reasonable GDP growth in Australia expected in q4
- Central scenario remains for economic growth around 3 pct
Some sanguine commentary there from Lowe. AUD is liking it:
more to come
Full text of Governor Lowe's accompanying Statement:
