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With The RBA Monetary Policy Meeting Minutes Released, What Did They Say Regarding Another Rate Cut?

With The RBA Monetary Policy Meeting Minutes Released, What Did They Say Regarding Another Rate Cut?
Asked by
Jon Steeler categorie-icon time-icon1 month ago
1 Answer Answer Question

Sam Bouman
Answered time-icon1 month ago

Australia’s central bank have said that they believe they will have to cut interest rates further even though they are at the current record low of 1.25%, they have stated that this is in order to push down unemployment and help to revive growth in wages and inflation.

After the board released its minutes yesterday it showed that the rate cut at the June policy meeting was made in order to help speed up the economy, however they did reiterate in their statement that they believe another rate cut will lie ahead. 

Things haven’t been looking too good for the Australian economies folate with the labour market worsening and the trade war taking its toll on the economy. 

It does seem however that the markets have already priced in another cut and are already pricing in a further cut after that to see the interest rate levels move to 0.75% in early 2020.

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