Reserve Bank of Australia monetary policy announcement
- Says global economy growing at a pace below average
- Judged economic growth would be improved by easing
- Rising AUD could complicate economic transition
- Underlying pace of growth in China economy appears to be moderating
- Recent Australian data suggests overall growth continuing at a moderate pace
- Says labour market data continue to be somewhat mixed
- Less risk of low rates overheating housing market
- Says recent data confirms inflation remains quite low, expected to remain case for some time
Quick headlines from the statement via Reuters
AUD quickly marked lower and then a bit of a bounce back - currently around 0.7517
Kudos to all who tipped a cut!
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