At its meeting today, the RBA Board decided to leave the cash rate unchanged at 2.0 per cent. Here’s part of the statement by Glenn Stevens, Governor: Monetary Policy Decision. Inflation is low and should remain so, with the economy likely to have a degree of spare capacity for some time yet. Inflation is forecast to be consistent with the target over the next one to two years. In such circumstances, monetary policy needs to be accommodative. Low interest rates are acting to support … [Read more...]
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