RBA leave cash rate ON HOLD

5 July 2016, 06:52
Sherif Hasan
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Reserve Bank of Australia monetary policy board decision announcement for July. Cash rate on hold at 1.75%

  • RBA says markets have been volatile as investors repriced assets after UK referendum
  • Says inflation quite low, to remain that way for some time
  • Rising AUD could complicate economic rebalancing
  • Says any effects of the UK referendum on global economy remains to be seen
  • Says overall growth in Australia is continuing
  • Says inflation has been quite low and expected to remain the case for some time
  • Low interest rates supporting domestic demand
  • A rising AUD could complicate economic adjustments
  • Labour market data mixed, still consistent with jobs growth

Quick headlines Via Reuters

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No surprise in the rate decision, the statement is not as dovish as was expected though. Not that's it hawkish, just less dovish.
The bank is waiting for the Q2 CPI data (July 27) for indications on inflation to inform their August decision. Also waiting to see what develops with the Brexit vote.
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