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