RBA board not expecting to raise rates for three years – Lowe
Australian central bank leaves rates unchanged as governor forecasts unemployment will fall slowly
The Reserve Bank of Australia’s board does not expect to increase interest rates until 2023, governor Philip Lowe said.
The RBA left its interest rate unchanged at 0.1%, after its monetary policy meeting today (December 1).
“Given the outlook for both employment and inflation, monetary and fiscal support will be required for some time,” Lowe said. This meant, he said, that the RBA’s board “is not expecting to increase the cash rate for at least three years”.
Unemployment in Australia
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