RBA Interest Rate Announcement

RBA Interest Rate Announcement November 2018

The RBA today has decided to leave interest rates unchanged. This wasn’t as positive as the announcement from last month but still more positive than earlier this year.

Here is the summary of what the RBA said:

  1. Some advanced economies are growing above trend with low unemployment rates but growth in China has slowed a little.
  2. Money-market interest rates in Australia declined recently.
  3. Some lenders have increased mortgage rates but the average is still lower than a year ago.
  4. Australian economy GPD grew 3.4% last year and is forecast to grow a bit above 3% in 2018 and 2019.
  5. Expected unemployment rate has declined to 5% which is the lowest in 6 years.
  6. Inflation just touched 1.9% but headline inflation is lower than expected at 1.75%.

More details at https://www.rba.gov.au/media-releases/2018/mr-18-27.html