Australia’s central bank lowered its growth forecast, predicted higher unemployment and said it was prepared to adjust policy if needed as business spending fails to fire and China struggles with an economic transition. “The board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand,” the Reserve Bank …
Australia’s central bank trimmed its inflation and growth forecasts on Friday, yet highlighted green shoots in the economy and gave no clear indication that it would cut interest rates again anytime soon. In its 70-page quarterly monetary policy report, the Reserve Bank of Australia (RBA) said weakness in business investment meant the economy would continue …
The Reserve Bank of Australia has lowered its growth and inflation estimates for 2015 and 2016, saying the economy will continue to grow at a subpar rate for a longer than expected period. In its 70-page quarterly monetary policy report, the RBA narrowed its growth forecast for 2015 to 2.5 percent versus 2.25-3.25 percent previously …
AUD/USD Eases Below 0.79 as RBA Lowers Growth Forecasts Read More »
On Tuesday, as widely expected, the RBA cut the official cash rate by 0.25% down to a record low of 2%. In the day or so since, the Australian markets haven’t exactly been following the script as written by the RBA. Interest rate cut normally equals a rally in equities and fall in currency. The …
