Reserve Bank reduced the official interest rate for the third time this year. The score of 0.25 ° C followed the discounts it made in February and May.
RBA has set the price of money to 3.6 percent – its lowest level in more than two years – after a month after maintaining rates despite the highly expected markets and each of the main banks.
In a monetary policy statement, the bank said that many indicators indicate that the job market is “somewhat narrow” – the unemployment rate increased to 4.3 percent in June – and that it remained cautious about expectations for the economy.
RBA said it expects a continuation of the recovery in the growth of family consumption with the continued rise in real income, but he said that his expectations indicate that inflation will continue to moderate to the center point from 2 to 3 percent of its target scope.
She said: “In some sectors, companies are still reporting that the weaknesses of the demand make it difficult to transfer the costs in costs.”
download
While the bank acknowledged that the uncertainty continued to revive the Australian economy, which is caused by both local and international developments, the interest rates “are in a good situation to respond decisively for international developments if they have material effects on activity and inflation in Australia.”
Brendan Rin’s chief economist at KPMG Renn says the bank’s price reduction is a step in the right direction, but more is needed.
He said: “The question is whether it is sufficient to surrender to the anemia and investment consumption environment that is currently facing Australian families and companies, which decrease the capabilities of economic growth in Australia.” “The simple answer is” perhaps not. “
About the Author
