RBA Rate Decision On Tap For Tuesday


The Reserve Bank of Australia (RBA) has left the cash rate unchanged at 1.5%, making November the 15th consecutive month the cash rate has stayed at a record low.

The interest rate has been at this level since September 2016.

The board of the Reserve Bank of Australia, governed by Philip Lowe, maintained the cash rate at 1.50 percent.

Meanwhile, the greenback remained supported after mostly positive USA data released late last week added to expectations for a rate hike by the Federal Reserve.

"Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time", the bank said in a statement.

AMP Capital chief economist Shane Oliver said the RBA had to balance its forecasts of improving stronger growth and employment against ongoing low inflation, weak wages growth, uncertain consumer spending and a high Australian dollar.

On the positive side, the global economy and infrastructure outlook remain positive while rampant house price growth has been slowing in line with a "soft landing".

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The Philippines will provide October data for consumer and producer prices.

The economy is not without its bright points with the job market surging this year led by full-time job creation, and decade-high business conditions pointing to the continuing hiring momentum.

The unemployment rate has also fallen to 5.5%.

While inflation has lifted a little over recent months, Dr Lowe said this was due to two areas - tobacco and electricity.

Following its regular monthly meeting, the RBA left the official cash rate at 1.5 per cent, the same it has been since August previous year.

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