RBA said about the improvement of the economic outlook for Australia
Today the Reserve Bank of Australia issued a statement according to which the country's economy continues to grow at a slow rate despite a decline in investment and in the mining sector. At the same time, rising prices for housing in Australia has slowed. Inflation in the country is still below the target levels of 2-3% and will remain below these levels in the near future, which allows the Reserve Bank of Australia to soften monetary policy. Commodity prices and the expected rise in interest rates of the Fed will adversely affect the price of the Australian currency and after the current growth, we expect the resumption of the negative dynamics with the objectives at 0.70 and 0.68.
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