From The Shadow:
Strong Conviction that Rates Need to Stay Put: Shadow Board
Australia’s inflation rate, at 1.6% (June quarter), 0.3 percentage points higher than in the March quarter, remains well below the Reserve Bank of Australia’s official target range of 2-3%. The unemployment rate is firm at 5.2%. The RBA Shadow Board’s conviction that the cash rate should remain at the new, low rate of 1% equals 68%, while the confidence in a required rate hike equals 22% and in a required rate cut equals 11%.
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