The Reserve Bank of Australia held rates at a record low 1.50 percent as expected on Tuesday and signaled economic conditions were in line with its inflation and growth targets.
In an assessment of the global economy, central bank governor Philip Lowe said in a statement that conditions have improved over last few months, with business and consumer confidence picking up. Advanced economies are also expected to see above-trend growth.
In addition, higher commodity prices have boosted Australia’s national income, he added.
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Craig Erlam
His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.
Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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