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News & Analysis
News & Analysis

RBA August Statement

6 August 2019 By GO Markets

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reserve bank of australia august

The Main Headlines of the RBA August Statement

By Philip Lowe, Governor: Monetary Policy Decision

  • The Board decided to leave the cash rate unchanged at 1.00 per cent.
  • The outlook for the global economy remains reasonable.
  • The persistent downside risks to the global economy combined with subdued inflation have led a number of central banks to reduce interest rates this year and further monetary easing is widely expected.
  • The Australian dollar is at its lowest level of recent times.
  • Inflation to increase gradually, but it is likely to take longer than earlier expected for inflation to return to 2 per cent.
  • Wages growth remains subdued and there is little upward pressure at present, with strong labour demand being met by more supply.
  • Conditions in most housing markets remain soft, although there are some signs of a turnaround, especially in Sydney and Melbourne.
  • It is reasonable to expect that an extended period of low-interest rates will be required in Australia to make progress.
  • The Board will continue to monitor developments in the labour market closely and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time

 

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.