• The Board decided to leave the cash rate unchanged at 1.50 per cent.
  • In Australia, the economy is continuing to grow at a moderate rate.
  • The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports.
  • Labour market indicators have been somewhat mixed.
  • The unemployment rate has fallen further
  • Part-time employment has been growing strongly, while growth in full-time employment has been subdued.
  • Inflation remains quite low,this is expected to remain the case for some time
  • Low interest rates have been supporting domestic demand
  • Growth in lending for housing has slowed over the past year.
  • The rate of increase in housing prices is lower than it was a year ago
  • A number of lenders are also taking a more cautious attitude to lending in certain segments

Press release

Post RBA  Monetary Policy Decision, the A$ trading lower against the greenback and NZD