Stevens: global financial conditions remain ‘very accommodative’
RBA keeps cash rate on hold at 2%
Glenn Stevens delivered a largely unchanged statement as the Reserve Bank of Australia kept its cash rate on hold at 2% today (July 7) - again suggesting monetary policy should remain "accommodative" with below-average growth and "elevated" unemployment.
Stevens noted global financial conditions remain "very accommodative" as well, despite expectations the Federal Reserve will begin raising the federal funds rate this year.
Moreover, he said, long-term borrowing rates for most sovereigns and
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