RBA board holds off judging impact of volatility on trading partners
Reserve Bank of Australia held policy rate at 2% earlier this month
The Reserve Bank of Australia (RBA) board gave a cautious assessment of the troubles in China and ensuing market volatility in its meeting on September 1, noting it was too soon to assess the impact on growth in Australia's trading partners.
At the meeting, the board held the RBA policy rate at 2%. It noted the developments in China and abroad had "increased the downside risks" to the global economic outlook, but held-off passing judgement on their likely long-term impact.
"It was too early to
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