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MNI RBA WATCH: RBA Bases Forecasts On 3.9% Cash Rate By Dec

(MNI) Sydney

The RBA's has published its cash rate assumption for the first time, noting a 3.9% rate by December.

The Reserve Bank of Australia’s updated Statement on Monetary Policy assumes the cash rate will fall to 3.9% by the end of the year from its current 4.35% level, despite the Board maintaining a more hawkish tone and the governor’s message that assumptions can change.

The cash rate assumption represents a new addition to the statement published every three months, which also now includes updated sections on the labour market and the bank’s balance sheet among others.

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The Reserve Bank of Australia’s updated Statement on Monetary Policy assumes the cash rate will fall to 3.9% by the end of the year from its current 4.35% level, despite the Board maintaining a more hawkish tone and the governor’s message that assumptions can change.

The cash rate assumption represents a new addition to the statement published every three months, which also now includes updated sections on the labour market and the bank’s balance sheet among others.

Keep reading...Show less