Capstone Forex Trading Online: RBA keeps benchmark interest

 

2019-12-04 09:56      from:CAPSTONE    author:Jack

Capstone Forex Trading Online: RBA keeps benchmark interest rate unchanged at 0.75% in December!
 
 
On Tuesday (December 3) in the Asian market, the Reserve Bank of Australia announced that it would keep the benchmark interest rate unchanged at 0.75%, in line with market expectations. The previous value was 0.75%. Previously, the market generally expected the RBA to continue to stand still this time. In addition, the Reserve Bank of Australia has always stated that it is ready to relax monetary policy if necessary.

Capstone Forex Trading Online
 
The RBA expects inflation to approach 2% in 2020 and 2021. Domestic wage growth has been suppressed. The Reserve Bank of Australia said that interest rate cuts supported employment and income growth, but also put downward pressure on the exchange rate. The Australian dollar is at the low end of the recent range. It is reasonable to expect lower interest rates for longer periods.
 
On the risk front, the Reserve Bank of Australia said the main domestic uncertainty is the outlook for consumption. Global economic risks have slowed. Other uncertainties include drought and housing construction cycles. There are signs of further improvement in the real estate market.
 
In addition, the Reserve Bank of Australia said it would focus on the development of the job market. Low interest rates, tax cuts, infrastructure spending, rising house prices and a brighter outlook for the resource industry should all support economic growth. Weak household incomes have put pressure on spending. In view of the lag of interest rate cuts, this meeting will not move. It is expected that the unemployment rate in 2020 and 2021 will be slightly lower than 5%, and inflation will gradually rise. The baseline scenario is that the Australian economy will gradually accelerate, and the growth rate in 2021 will reach about 3%. Low interest rates stimulate asset prices, which should lead to higher spending.


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