In its minutes issued this morning, the Reserve Bank of Australia confirmed the following points:
Its target is for three-year yields to be maintained until progress is made towards full employment while controlling inflation
The downturn has not been as severe as earlier feared
Financial and monetary support will likely be required for some time
Australia’s recovery has been slower than expected
Uncertainty about public health situation and the future path of the economy is affecting the spending plans of many families and businesses
Members agreed that the bank's policy package was continuing to work broadly as expected
Its target is for three-year yields to be maintained until progress is made towards full employment while controlling inflation
The downturn has not been as severe as earlier feared
Financial and monetary support will likely be required for some time
Australia’s recovery has been slower than expected
Uncertainty about public health situation and the future path of the economy is affecting the spending plans of many families and businesses
Members agreed that the bank's policy package was continuing to work broadly as expected
