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1.Market Observations, 8.Was Sticky

7 Aug 2019 (AFR) – RBA lowers GDP, inflation forecasts

(7 August 2019, AFR, p6, John Kehoe, Senior Writer)

RBA Cash rates (Financial Review, RBA)

RBA cash rates (Financial Review, RBA)

‘The Reserve Bank of Australia has slightly trimmed its economic growth forecast and admitted inflation will undershoot for years after holding interest rates steady at a record low 1 per cent. The decision by the RBA board on Tuesday to keep rates on hold follows consecutive interest rate reductions in June and July. RBA governor Philip Lowe said further interest rate cuts were still possible and reiterated  rates would stay low for a lengthy period of time.’

Read more at AFR.com (might need AFR log in access, or try: AFR.com/trial)

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