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MNI BRIEF: Current Rates "Well Below" Neutral Says RBA

MNI (Sydney)
SYDNEY (MNI)

The minutes from the last policy meeting show an aim to normalise policy settings.

The Reserve Bank of Australia has said that the current level for official interest rates is “well below” the lower range of estimates for the nominal neutral rate, suggesting the need for further interest rate rises.

The comment was included in the minutes of the last meeting of the RBA Board, held on July 5, when the central bank hiked official rates by 50 basis points to 1.35%, the third successive increase since May.

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The Reserve Bank of Australia has said that the current level for official interest rates is “well below” the lower range of estimates for the nominal neutral rate, suggesting the need for further interest rate rises.

The comment was included in the minutes of the last meeting of the RBA Board, held on July 5, when the central bank hiked official rates by 50 basis points to 1.35%, the third successive increase since May.

Keep reading...Show less