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    05.07.2016 05:49 RBA decided to leave the interest rate unchanged at 1.75%

    05.07.2016 05:49

    RBA decided to leave the interest rate unchanged at 1.75%

    - Australia's terms of trade are much lower than they were in recent years,

    - The world economy continues to grow at a lower than average rate. Several developed economies have recorded improvement in conditions over the past year, but the conditions are more difficult for a number of emerging market economies.

    - The growth rate of China's economy continues to slow, although the recent actions offers support near-term.

    - Commodity prices are above recent lows, but it should be a very significant decline in the past few years.

    - Financial markets have been volatile recent, as investors re-evaluate the assets after the referendum in the UK.

    - Any consequences of the referendum results on global economic activity remains to be seen.

    - Recent data point to the continuing overall growth in Australia, despite the very large decline in business investment.

    - Other areas of domestic demand and exports are expanding.

    - Labour market indicators were more mixed lately, but they are consistent with a moderate pace of expansion of employment in the near future.

    - Inflation has been relatively low, given the very depressed growth in labor costs and a very low cost in other countries.

    - Low interest rates are supporting domestic demand and the low exchange rate.

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