With the trade conflict between USA & China, there is a lot of global uncertainty. When unsure of the future, businesses and households scale back. Historically gold rallies and once again, we see gold is moving up. Since the below update, the A$ has started to strengthen as the US$ weakens with the threat of trade war. Overall, risks are definitely tilted to the downside.
This week, The Reserve Bank of Australia (RBA), left the cash rate unchanged at 1.00 per cent.
How did they come to that decision?
The Board of the RBA considered the outlook for the global economy, bond yields, the Australian economy, the Australian labour market, housing market & inflation.
Philip Lowe, Governor of The Reserve Bank, explains everything here in his economic update
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