As expected, the RBA once again leaves the cash rate at 2.5%

“In Australia, the most recent survey data indicate gradually improving business conditions and some recovery in household sentiment after a weaker period around mid year, suggesting moderate growth in the economy is occurring. Resources sector investment spending is starting to decline significantly. Investment intentions in some other sectors continue to improve, though these areas of capital spending are expected to see only moderate growth in the near term. Public spending is scheduled to be subdued. Overall, the Bank still expects growth to be a little below trend over the year ahead.” – excerpt from RBA Media Release, 2nd September 2014

For the full statement from Glenn Stevens, click here http://www.rba.gov.au/media-releases/2014/mr-14-15.html

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