Australia's central bank shifts to clear easing bias, onus on employment to improve
Updated : May 21, 2019 09:17 AM IST
Minutes of the Reserve Bank of Australia's (RBA) May policy meeting out on Tuesday dropped an oft-repeated sentence that 'there was no strong case for a near-term adjustment to rates', suggesting a cut might be close.
Earlier this month, the RBA cut forecasts for economic growth while extending the time frame for achieving a lower jobless rate and higher consumer prices.
While economic data have generally disappointed in recent months, the jobs market had remained resilient. However, latest figures point to still-high spare capacity even as hiring beats forecasts.
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