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RBA Leaves Key Rate at 1.5% as Seen by All 27 Economists
Tuesday, 3 October 2017 10:48 WIB | FISCAL & MONETARY |RBA

Reserve Bank of Australia leaves interest rate unchanged at record low 1.5% for 14th month, having previously said it doesn™t need to follow global peers that are tightening policy.

Core inflation remains below bottom of RBA™s 2%-3% target range; wage growth still at a record low.

Yet the economy has added more than 200,000 full-time jobs this year, suggesting some contraction in spare capacity; unemployment is 5.6%, about half a percentage point off full employment.

Sydney house prices slipped 0.1% in September, first monthly decline after 17 gains, suggesting macro-prudential measures introduced by regulators to cool lending are working.

The RBA™s fear is record-high household debt and stagnant wages will prompt consumers to pull back on spending, hurting the 55% of the economy reliant on them.

Despite easing recently, AUD/USD has risen about 8% so far this year, hurting the competitiveness of exporters.

 

Source : Bloomberg

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