The Reserve Bank of Australia left rates unchanged at 2.5% record lows, with the Monetary Policy Statement offering some interesting clues, saying "the Board will continue to assess the outlook and adjust policy as needed", omitting a more aggressive narrative seen in last few months.
While the door to reduce rates further is not closed, the statement sounds not as dovish as one may have expected, yet the value of the Australian Dollar and domestic indicators will continue to determine the future rate setting.
At its meeting today, the Board decided said in Australia the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target.
The Australian dollar has depreciated by around 15% since early April, although it remains at a high level. It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.
At today's meeting, the Board judged that the setting of monetary policy remained appropriate.
Комментариев нет:
Отправить комментарий