Market news
02.04.2019, 05:59

The Reserve Bank of Australia left its benchmark interest rate unchanged, at 1.50%.

  • the Australian labour market remains strong.

  • there has been a significant increase in employment and the unemployment rate is at 4.9%

  • the vacancy rate remains high and there are reports of skills shortages in some areas.

  • the stronger labour market has led to some pick-up in wages growth, which is a welcome development.

  • continued improvement in the labour market is expected to see some further lift in wages growth over time, although this is still expected to be a gradual process.

  • GDP data paint a softer picture of the economy than do the labour market data

  • outlook for the global economy remains reasonable

  • growth has slowed and downside risks have increased

  • growth in international trade has declined

  • investment intentions have softened in a number of countries

  • global financial conditions remain accommodative and have eased recently

  • risk premiums remain low

  • equity markets have also risen and are being supported by growth in corporate earnings

  • the Australian dollar has remained within its narrow range of recent times

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