RBA Interest Rate announcement July 2015

The RBA today has decided to leave interest rates unchanged today. It was a relatively short release from the RBA today.

Here is the summary of what the RBA said:

  1. The global economy is moving at a moderate pace.
  2. Global financial conditions are very accommodative.
  3. Australian  economic growth is below long-term average.
  4. Inflation is in target range.
  5. Unemployment is still elevated and hasn’t moved recently.
  6. RBA sees risks in the Sydney property market.
  7. Australian dollar is still high and likely to devalue given lower commodity prices.

More details at http://www.rba.gov.au/media-releases/2015/mr-15-11.html