Wednesday, 20 July 2011

The RBA Minutes…July 19, 2011 2:07 AM GMT

The RBA Minutes…


The Reserve Bank of Australian released today its minutes that held on July, where the Bank saw that keeping rates unchanged steady at 4.75% it's a prudent decision amid the slowing global economy, while the Bank aims to support the economy to rebound.

On the other hand, the Bank has noted that increasing currency is helping to contain inflation appreciation, and higher Australian currency has dampening effect parts of economy which helped the nation's exports to decline, whereas the Bank has increased its warning about the situation in Euro-Zone as the Greece debt crisis that threatens the global economy, while it increased volatility in Forex markets on Euro concerns.

While the Bank aimed to encourage companies to increase their expansion that will help to hire more workers, because of the Bank targeted to decline the unemployment rates in the upcoming period, further the recent data showed that wages are doing a stable performance; this is a positive phase amid slowing the nation's economy.     

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