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Rates remain unchanged at December RBA meeting

By the resi financial blog team, 02 December 2014

Rates remain unchanged at December RBA meeting

The Reserve Bank of Australia left rates unchanged at 2.5 per cent at its December board meeting. This is the 15th straight meeting rates have been left on hold. 

RBA governor Glenn Stevens said inflation was running between 2 and 3 per cent, with recent data confirming subdued rises in labour costs. 

“Although some forward indicators of employment have been firming this year, the unemployment rate has edged higher,” he said. “The labour market has a degree of spare capacity and it will probably be some time yet before unemployment de ...

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Melbourne Cup Day leaves rates unchanged at 2.5 per cent

By the resi financial blog team, 04 November 2014

Melbourne cup rate update

One of the reasons behind this decision is the unemployment rate, which has been creeping up recently and now stands at 6.1 per cent. It is expected to be some time before unemployment declines consistently.

Meanwhile inflation remains low at around 2.3 per cent, while wages are growing more slowly than inflation.

RBA governor Glenn Stevens again reiterated that while the exchange rate had been trading at lower levels – in part reflecting the strength of the US dollar – the Australian dollar remained above most estimates of its fundamental value ...

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Month in Review June 2014

By the resi financial blog team, 04 June 2014

Australia Financial review June 2014

The Reserve Bank of Australia has left rates on hold at 2.5 per cent for the ninth consecutive month. The last time the RBA moved on rates was in August 2013.

The stability in the economy means the decision to keep rates stable is not a surprise. The RBA said that the economy had been growing at a pace that was below trend but appears to have firmed around the start of 2014. It attributed this partly to strong increases in resources exports but also to the growth in consumer demand and a strong expansion in housing construction.

It remains unclear whether the ch ...

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Month in Review: May 2014

By the resi financial blog team, 07 May 2014

RBA update for May 2014

The Reserve Bank of Australia has kept the cash rate on hold at 2.5 per cent for the ninth consecutive month. The result was widely expected by economists, however, this month there were hints that the RBA was more optimistic around the jobs market.

RBA governor Glenn Stevens said demand for labour had been weak over the past year and this has fed into the rise in the unemployment rate. “More recently, there has been some improvement in indicators for the labour market,” he says. “But it will probably be some time yet before unemployment declines consiste ...

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