Tuesday, 7 July 2015

RBA’s First New Year’s Resolution



RBA’s First New Year’s Resolution

Interest Rates on Hold - Monetary Policy Decision - July 2015

At its meeting today, the Reserve Bank Board decided to leave the cash rate unchanged at 2.0 per cent.The news was widely expected by analysts. 
The RBA indicated in part that it awaits indicator adjustments to its rate cuts in February and May this year.
Though the Australian dollar shows signs of returning to more acceptable levels, the global economy is expanding only at a moderate pace and some key commodity prices are much lower than a year ago. This trend appears largely to reflect increased supply, including from Australia. Australia's terms of trade are falling nonetheless.
The Board today judged that leaving the cash rate unchanged was appropriate at this meeting. Information on economic and financial conditions to be received over the period ahead will inform the Board's assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with current targets.
Analysts appear undecided whether the RBA will drop rates again this year or not. There is a view that if another rate cut does occur this year, it will probably not be until November or December.
So, what does it all mean? Who knows,
just


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