The latest minutes from the RBA’s August meeting show the central bank expects a long period of record-low interest rates while the economy continues to weaken and the global economy suffers through trade wars.
The Reserve Bank has decided against cutting rates for the third month in a row and has left them at their record-low of 1 per cent.
Economists say it’s well and truly possible that the Reserve Bank could cut interest rates twice more in the next year.
The Reserve Bank has cut rates to a new record-low of 1 per cent and it isn’t backing away from criticism by saying it’ll cut again if it has to.
The RBA’s interest rate cut this month looks to have had immediate effect with the strongest auction result in a year being recorded on the weekend.
Official interest rates in Australia have been slashed to a new record-low of 1.25 per cent – the first move in nearly three years.
An interest rate cut next week would be the start of the end for falling house prices according to economists.
In the wake of the surprise federal election result the Reserve Bank has indicated a rate cut is likely next month and wants the Morrison Government to join in stimulating the national economy.
The Australian unemployment rate has crept up for the second month in a row and it’s pushing the Reserve Bank closer to an official interest rate cut.
This month’s eagerly awaited RBA meeting has ended with the official cash rate remaining unchanged for a record 34thconsecutive month.
