RBA Interest Rate Announcement August 2018
The RBA today has decided to leave interest rates unchanged again.
Here is the summary of what the RBA said:
- The global economy has strengthened while growth in China has slowed a little.
- Australian wholesale interest rates have increased over the recent months.
- Australian economy is forecast to grow above 3% in 2018.
- Expected unemployment rate over the next “couple of years” is to be “around” 5%.
- Inflation just touched 2.1% but headline inflation is lower than expected at 1.75%.
- Sydney and Melbourne housing markets have slowed with credit growth declining.