RBA Interest Rate Decision August 2017
RBA leaves rates on HOLD! Cash rate has been left unchanged at 1.50%.
The RBA met industry expectations today, announcing its decision to hold the official interest rate at the record low of 1.5 per cent for August. This marks a full year since the cash rate last moved.
The economy is still not strong enough to justify a rate hike and not weak enough to warrant a cut in official interest rates. The latest economic figures show our economy is in neutral. Inflation has dropped to 1.9 per cent, just below the RBA’s target range of 2–3 per cent and unemployment remains steady at 5.6 per cent.
The RBA will be watching the Australian dollar closely as it rises to US80 cents, but not worried enough to justify a rate cut.
Any questions please feel free to Bez Esquivel
