Original article by John Kehoe
The Australian Financial Review – Page: 6 : 7-Aug-19
The Reserve Bank of Australia has downgraded its GDP growth forecast for 2019 from 2.75 per cent to 2.5 per cent, after leaving the cash rate unchanged on 6 August. Central bank governor Philip Lowe again indicated that official interest rates will remain low for some time, and that any change in monetary policy will depend on the outlook for the unemployment rate and inflation. The inflation rate was 1.6 per cent in the year to June, and the RBA now does not expect it to reach the bottom end of its 2-3 per cent target range until 2021.
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