On 7th of July 2015, The RBA Board has made a decision to keep the cash rate unchanged at 2.0%. This decision was based on numerous factors.
International factors such as accommodative global financial conditions, consistent average economic growth of Australia’s major trading partners, risky volatility of Chinese Equity market and Greece’s Debt Crisis were put in to consideration in addition to Domestic factors such as, very low interest rates, elevated unemployment, declined mining investments, under-average economic growth, improving general business conditions and minimal changes in housing market. Furthermore the falling commodity prices and AUD depreciation as well slowly growing labour costs were considered in decision making.
Glenn
International factors such as accommodative global financial conditions, consistent average economic growth of Australia’s major trading partners, risky volatility of Chinese Equity market and Greece’s Debt Crisis were put in to consideration in addition to Domestic factors such as, very low interest rates, elevated unemployment, declined mining investments, under-average economic growth, improving general business conditions and minimal changes in housing market. Furthermore the falling commodity prices and AUD depreciation as well slowly growing labour costs were considered in decision making.
Glenn