August 2017 – RBA Announcement
August 3rd 2017
In a media release on the 1st of August, the RBA announced that the board have decided to leave the cash rate unchanged at 15 per cent.
Key points and reasons for an unchanged cash rate:
- Continuing improvement in conditions in the global economy.
- Wage growth and inflation remain subdued in most countries.
- Forecasts for the Australian economy are largely unchanged.
- Increase in employment levels across all states.
- Inflation data proved to be as expected.
- Appreciation of the Aussie dollar.
- Variation in housing conditions across the country.
- Low interest rates are continuing to support the Australian economy.
Click here to view the statement by Philip Lowe, Governor: Monetary Policy Decision
About the Author
Dr Shane Oliver, Head of Investment Strategy and Economics and Chief Economist at AMP Capital is responsible for AMP Capital’s diversified investment funds. He also provides economic forecasts and analysis of key variables and issues affecting, or likely to affect, all asset markets.
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