The Reserve Bank of Australia (RBA) in Sydney, Australia, 01 September 2015. The RBA announced it will keep interest rates on hold at an historic low of two percent. The Australian bond market has been weighed down by a spike in oil prices, nervousness about China's pace of growth and fears of a September US rate rise. EPA
SYDNEY: Australia’s central bank believes a cut in interest rates would be “appropriate” should inflation stay low and unemployment trend higher, though there was still no strong case for a move in the near term.
The Reserve Bank of Australia (RBA) also sees the likelihood of a higher cash rate in the near-term as low, marking a dovish turn in policy compared to last month when it saw the risks for rates to move in either direction as more evenly balanced.
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