RBA Minutes Show Labour Market Remains Subdued

Australia’s central bank said the labor market remained subdued but had stabilized somewhat this year, adding it had based its assessment on a range of data given the volatility in the official labor force survey.

In minutes of its Oct 7 policy meeting, the Reserve Bank of Australia (RBA) also reiterated that the most prudent course was to maintain a period of stability in interest rates.

“Given the information available, the Board’s judgement was that the current stance of monetary policy continued to be appropriate for fostering sustainable growth in demand and inflation outcomes consistent with the target over the period ahead,” the minutes said.

The RBA this month left its cash rate unchanged at a record low 2.5 percent, where it has been since August last year.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza