Daniel Moss, Columnist

Australia Is Being Dragged Toward an Interest-Rate Cut

The RBA is officially agnostic on its next move, but the main scenario might need a nudge.

March 19, 2019 at 4:54 AM UTC

Daniel Moss is a Bloomberg Opinion columnist covering Asian economies. Previously, he was executive editor for economics at Bloomberg News.

RBA Governor Philip Lowe.
Photographer: Brendon Thorne/Bloomberg

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For a central bank at pains to stress neutrality, the Reserve Bank of Australia may not be far away from cutting interest rates.

Minutes from the RBA board's March 5 meeting attest to the load being carried by the labor market and consumers. The idea is that low unemployment will translate into higher wages, enabling the consumer to step up despite the drop in home values.