Objective: The RBA's objectives are to contribute to (a) the stability of the currency; (b) themaintenance of full employment; and (c)the economic prosperity and welfare of the people of Australia. Stability is widely acknowledged through the RBA's inflation target of 2-3%.
As of Q4, inflation in Australia stands at 0.9%; while GDP for Q3 printed at -3.8% Y/Y and -3.3% Q/Q. For February, the Unemployment Rate fell to 5.8% from January's 6.4% with Employment Change printing at 88.7K with full-time employment printing at 89.1K.
Situation: At their March meeting, the RBA kept its Cash Rate and 3-year yield target at a record low of 0.10%. However, the central bank reaffirmed its commitment to maintaining highly supportive monetary conditions until its goals are reached and it will not increase the Cash Rate until inflation is sustainable at 2-3% target.
Additionally, the RBA stated it is prepared to make further adjustments to its bond buying program in response to market conditions and it does not expect a tight labour market and high wage growth until 2024 at the earliest.
As of Q4, inflation in Australia stands at 0.9%; while GDP for Q3 printed at -3.8% Y/Y and -3.3% Q/Q. For February, the Unemployment Rate fell to 5.8% from January's 6.4% with Employment Change printing at 88.7K with full-time employment printing at 89.1K.
Situation: At their March meeting, the RBA kept its Cash Rate and 3-year yield target at a record low of 0.10%. However, the central bank reaffirmed its commitment to maintaining highly supportive monetary conditions until its goals are reached and it will not increase the Cash Rate until inflation is sustainable at 2-3% target.
Additionally, the RBA stated it is prepared to make further adjustments to its bond buying program in response to market conditions and it does not expect a tight labour market and high wage growth until 2024 at the earliest.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.