Australia’s central bank sees significant uncertainties around the economic outlook, which was why interest rates were likely to stay at record lows for some time yet.
In minutes of its Aug 5 meeting, where the central bank marked a full year without a rate change, the Reserve Bank of Australia (RBA) also said there was a “notable degree” of spare capacity in the labor market.
“Members noted that there was inevitably a significant degree of uncertainty about the outlook, given the number of forces working in different directions,” the minutes said.
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