Latest news with #full employment

Wall Street Journal

RBA Board Awaits Inflation Update Before Moving to Cut Rates

SYDNEY—The Reserve Bank of Australia's monetary policy board kept interest rates on hold earlier this month, deciding that a more gradual pace of cuts was needed, and that there was time to wait for the release of crucial second-quarter inflation data. 'They believed that lowering the cash rate a third time within the space of four meetings would be unlikely to be consistent with the strategy of easing monetary policy in a cautious and gradual manner to achieve the board's inflation and full employment objectives,' minutes of the July 7-8 policy meeting said.