The Reserve Bank of Australia said in its monetary policy statement that there is no strong reason to adjust interest rates in the near term. His most prominent comments were as follows:
- Inflation expectations and growth support raise interest rates at some point.
- Inflation expectations were adjusted slightly.
- GDP must exceed expectations.
- GDP is expected to reach 3.5% this year.
- GDP is expected to rise by 3.25% in 2019 and 2020.
- Core inflation could rise by 1.75% in 2018, 2% in 2019, and 2.25% in 2020.
- Unemployment is expected to reach 5% in 2019 and 4.57% in 2020.
- The labor market has become stronger than we expect.
- Economic growth and labor market sector will support the growth of inflation.
- There is a slowdown in household incomes, rising debt and lower home prices.
- The prospect of rising trade protectionism poses a major threat to global growth.
- Many Asian economies could be affected by trade tensions.
- Demand has slowed noticeably in Sydney, Melbourne housing with steadily falling prices steadily.
- The non-mining economy grew strongly.
- lower AUD is good for growth and inflation expectations.
