RBA: Bushfires, coronavirus will temporarily weigh on growth
Following are the key headlines from the February RBA monetary policy statement (via Reuters):
To ease policy if needed to support sustainable growth.
Rates to remain low for extended period.
Will monitor developments in labor markets.
Lower cash rate has put downward pressure on A$.
Low rates are boosting asset prices which should lead to increased spending.
Scenario for Australian economy to grow by 2.75% this yr; 3% next year.
Central scenario for underlying inflation to be close to 2% in 2020.