Dynamic Business Logo
Home Button
Bookmark Button

The Reserve Bank of Australia believes it is “too soon” to be certain the global economy is on the road to recovery.

The minutes of the central bank’s latest board meeting show that the RBA is cautious of being too optimistic about the economic recovery.

“Members concluded on balance that the global economy was most likely on a sustained, if modest, recovery path, though it was still too soon to be confident of this assessment,” the minutes said.

The bank left the cash rate unchanged at three percent in September, hinting at a possible rate rise if improved prospects for economic growth were realised.

“The meeting concluded that the balance was best struck by leaving the cash rate unchanged for the time being, pending further evaluation of incoming information at future meetings,” the minutes said.

People who read this, also liked:
Borrowers warned: interest rates will rise

What do you think?

    Be the first to comment

Add a new comment

Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

View all posts