The Reserve Bank of Australia today has announced it will leave the official cash rate unchanged at 1.5 percent for the fourteenth consecutive month.
‘Conditions in the global economy are continuing to improve. Labour markets have tightened and further above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Australia’s terms of trade are expected to decline in the period ahead but remain at relatively high levels.’ – Reserve Bank of Australia