Economics
Australia Holds Rates as RBA Plays Long Game on Economy's Growth
- Lowe warns first-quarter GDP growth expected to have slowed
- Pace of economic slowdown may be ‘more sustained’: ANZ
Canadian Imperial Bank's Bennett Sees Soft Australian Q1
This article is for subscribers only.
The Reserve Bank of Australia shrugged off a likely slowdown in the economy when it left its benchmark interest rate on hold for the 10th straight month on Tuesday.
Governor Philip Lowe said growth was still expected to accelerate above 3 percent in the next couple of years despite probably slowing in the March quarter, citing a broad-based pick-up in the global economy alongside a local improvement in jobs and non-mining investment. But he counter-balanced that with a warning: underemployment was keeping a lid on wage gains which in turn is restraining household spending.