Australia

Inflation outlook leaves scope for RBA cuts

Members of the Reserve Bank of Australia's rate-setting board saw no pressing case for further monetary stimulus but concurred that the inflation outlook left scope for cuts if required, the minutes of this month's policy meeting show

RBA hints at further easing

While it kept rates on hold for the time being, the Reserve Bank of Australia has dropped a strong hint that further rate cuts are on the way by suggesting that "scope remains for some further easing."

RBA on why it kept policy rate unchanged

The Reserve Bank of Australia decided to leave the cash rate unchanged at 3% as there were signs that the economic stimulus that had been applied was supporting demand, according to minutes of the May meeting.

Australia's Ellis: higher wages aided economy

One of the reasons why Australia is coping better amid the turmoil is that real earnings of average Australian workers were growing much faster than in the United States, said Luci Ellis, the head of the financial stability department at the country's…

RBA's Richards: housing shortfall welcome

The relative tightness of the Australian housing market is one factor that will support home-building in the period ahead, said Anthony Richards, the head of the economic analysis department at the country's central bank.

RBA's Lowe: payments providers must cooperate

There is a strong case to re-examine the balance that has been struck in the Australian payments system between competition and cooperation, said Philip Lowe, an assistant governor of country's central bank.

RBA on why it kept policy rate unchanged

The Reserve Bank of Australia decided to "pause for a further evaluation" of the economic situation and so leave the cash rate unchanged at 3.25%, according to minutes of the March meeting.

RBA explains February cut

Significantly lower forecast for domestic output growth than expected was behind the Reserve Bank of Australia's cut in the cash rate by 100 basis points to 3.25%, according to minutes of the February meeting.

"Leaning against the wind" to rise - Stevens

Glenn Stevens, the governor of the Reserve Bank of Australia, expects the view that monetary policy should "lean against the wind" when asset prices are rising will gain in followers in the aftermath of the current market turmoil.

Papua New Guinea's Kamit praises polymer

The benefits of polymer banknotes are their cost-effectiveness, durability and greater ability to withstand counterfeiting, said Wilson Kamit, the governor of the Papua New Guinea.

RBA justifies November cut

An attempt to reduce the risk of a sharp weakening of demand was behind the Reserve Bank of Australia's cut in the cash rate by 75 basis points to 5.25%, according to minutes of the November meeting.

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