In the statement following the recent Monetary Policy Board meeting of the Reserve Bank of Australia, Governor Glenn Stevens announced the continuation of the RBA policy stance held since the May 2015 meeting. The statement was more telling than the cash rate being held at 2.00%.

As far as central bank statements go, the board was rather direct on several points. First, it was noted that, “…The global economy is expanding at a moderate pace, with some further softening in conditions in the Asian region… … Key commodity prices are much lower than a year ago, in part reflecting increased supply, including from Australia…” ; thus directly referring to the RBA’s concerns over the domestic Aussie economy.

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By Guest