RBA Has Left Interest Rate Unchanged at 1.5%
The Reserve Bank of Australia has left the key interest rate unchanged at 1.5%. The Australian dollar fell sharply after the RBA’s statement. The regulator summed up that the interest rates correspond to the goals in relation to GDP and inflation.
The RBA also noted that the Australian economy will gradually strengthen, and the level of inflation will grow gradually as the economy strengthens. The RBA also said that the conditions on the labor market vary considerably. For example, low wage growth is likely to continue for a while, but outrunning labor market indicators look optimistic.