RBA holds fire as it awaits data on struggling economy

The Reserve Bank of Australia has left official interest rates on hold as it awaits further insights into the struggles facing the broader economy.

Figures from the Australian Bureau of Statistics ahead of the decision firmed up market expectations of an interest rate cut later this year. "Taken together, recent labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment."that showed house values in Sydney and Melbourne bouncing in August.

"Growth in housing credit remains low. Demand for credit by investors continues to be subdued and credit conditions, especially for small and medium-sized businesses, remain tight," he said. "Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.", which are expected to show the economy growing at its slowest rate since the start of the century.

swrighteconomy ErykBagshaw Central banks trying to look like they know what they’re doing....looking at ‘data’.....please. Jokers.

swrighteconomy ErykBagshaw The economy isn't struggling, the $AUD is.

swrighteconomy ErykBagshaw RBA can't save the economy. LNP are incapable. We're basically fkd

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