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05.02.2019 15:16

RBA retains record low interest rate, but trims growth outlook

  • Low rates supporting economy

  • Progress on unemployment, inflation expected to be gradual

  • Central scenario for gdp growth to average around 3 pct this year

  • Central scenario for gdp growth to slow in 2020 due to weaker resource exports

  • Inflation remains low and stable

  • Central scenario for inflation 2 percent in 2019, and 2.25 pct in 2020

  • Household consumption remains a source of uncertainty

  • Main domestic uncertainty remains around household spending, effect of falling house prices

  • Consumption data have been volatile

  • Growth in household income expected to pick up and support spending

  • Labour market remains strong

  • Wage growth to pick up gradually over time

  • Further fall in unemployment rate to 4.75 pct expected

  • Gdp growth in september quarter was weaker than expected

  • Credit conditions for some borrowers are tighter than they have been

  • Global economy slowed in second half of 2018, downside risks have increased

  • Seeing some signs of slowdown in global trade, partly stemming from trade tensions

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

  • Australia's terms of trade have increased, expected to decline over time


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00