NABZY - Australia: Equities Erode & Aussie Falls After RBA Stays The Course
Asia-Pacific: The Week Ahead (May 13-17)
The Reserve Bank of Australia ((RBA)) surprised many in the market Tuesday with its decision to leave its cash rate unchanged, despite recent weakness in the country’s rate of inflation.
The RBA’s board elected at the conclusion to its latest monetary policy meeting to maintain its cash rate at 1.50%, where it has resided since July 2016.
RBA governor Philip Lowe noted that while the Australian labor market remains “strong,” there has been “little further progress” in reducing unemployment over the past six months.
Australia’s unemployment rate has been