Economics
RBA Keeps Focus on Jobs and Housing Even as Markets Improve
- Central bank reiterates concerns in minutes of June meeting
- Measures to cool mortgage lending yet to have ‘full effect’
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Australia’s central bank kept its focus on employment and housing markets even as signs emerge of improvements in both.
While property had been “rising briskly” in Sydney and Melbourne, there were also some signs that price pressures were beginning to ease, the Reserve Bank of Australia said Tuesday in minutes of this month’s policy meeting when interest rates were kept at 1.5 percent. Similarly, while employment gains had strengthened in recent months, growth in hours worked had declined, it said.