The flow of data over the past few months
has been consistent with the earlier forecasts.
Inflation is expected to remain low for some time,
before gradually returning to more normal levels.
While there is uncertainty about the outlook for
employment growth, it is likely that there will still be
some spare capacity in the labour market over the
forecast period. At the same time, housing prices
are rising at a brisk rate in some locations, although
overall housing credit growth and housing turnover
remain lower than they were last year.
recent meetings the Board (RBA) judged that there were
reasonable prospects for achieving sustainable
growth in the economy with inflation returning
to the medium-term target over time and, hence,
it was appropriate to leave the cash rate at
1.50 per cent.
has been consistent with the earlier forecasts.
Inflation is expected to remain low for some time,
before gradually returning to more normal levels.
While there is uncertainty about the outlook for
employment growth, it is likely that there will still be
some spare capacity in the labour market over the
forecast period. At the same time, housing prices
are rising at a brisk rate in some locations, although
overall housing credit growth and housing turnover
remain lower than they were last year.
recent meetings the Board (RBA) judged that there were
reasonable prospects for achieving sustainable
growth in the economy with inflation returning
to the medium-term target over time and, hence,
it was appropriate to leave the cash rate at
1.50 per cent.