At its 7 July meeting, the Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.75%, as was widely expected by market analysts. The decision marked the seventh consecutive meeting that monetary authorities maintained rates. In the accompanying statement, monetary authorities stressed that reconstruction efforts in key sectors affected by natural disasters at the beginning of the year proceed slower than expected. Accordingly, the Bank believes that growth through 2011 is now unlikely to be as strong as earlier forecast. In addition, the RBA believes that CPI inflation will be close to target over the next 12 months, as price pressures in the agricultural sector following the Yasi cyclone are expected to wane going forward. Therefore, the RBA believes the current mildly restrictive monetary policy stance remains appropriate.
Australia Monetary Policy
RBA leaves rates unchanged as recovery stutters
July 5, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.