The Reserve Bank of Australia didn’t change interest rates and it remains at a 1%, following the Reserve Bank meeting today to set interest rates for the current month. The statement issued by the Reserve Bank of Australia's monetary policy notes the following:
The outlook for global economy is reasonable.
The government will start ease policy if needed to support sustainable growth.
We will monitor developments in labor markets closely.
Rates to remain low for extended period.
The trade and technology disputes are affecting international trade flows and investment.
Central scenario for underlying inflation to be a little under 2% in 2020.
Global financial conditions remain accommodative.
A$ at its lowest level of recent times.
Economic growth in Australia over the first half of this year has been lower than earlier expected.