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RBA to Review Outlook in February, Monitoring Earlier Cuts

  • RBA says softer confidence reflects weakness at home, abroad
  • Board says it has ability to deploy further stimulus if needed
Bloomberg business news
RBA to Reassess Economic Outlook in February 2020
Updated on

Australia’s central bank headed into the holiday period with a pledge to reassess the economic outlook at its first meeting next year as it monitors how three prior interest-rate cuts are impacting the economy.

“The available evidence suggested that more stimulatory monetary policy had been working through the usual channels,” the board said in minutes of its Dec. 3 meeting released Tuesday. “Economic growth and the unemployment rate remained broadly consistent with the forecasts, but members agreed that it would be concerning if there were a deterioration in the outlook.”