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Concluding paragraph: - Given these effects.....>

RBA
RBA: Concluding paragraph:
- Given these effects of lower interest rates and the long and variable lags in
the transmission of monetary policy, the Board decided to hold the cash rate
steady at this meeting while it continues to monitor developments, including in
the labour market. The Board also agreed that due to both global and domestic
factors, it was reasonable to expect that an extended period of low interest
rates will be required in Australia to reach full employment and achieve the
inflation target. The Board is prepared to ease monetary policy further if
needed to support sustainable growth in the economy, full employment and the
achievement of the inflation target over time.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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