9/21, 4:15 AM (Source: TeleTrader)
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RBA see no rate rise until 2024

The Reserve Bank of Australia (RBA) said in its monetary policy meeting that the more contagious Delta variant of coronavirus introduced uncertainty to the economic outlook and that the central scenario is conditions for rate rise will not be met until 2024.

The members agreed to maintain highly supportive monetary conditions adding that the economy was likely to bounce back as vaccination rates increase and restrictions are eased.

"While acknowledging that monetary policy can do little more to offset this type of temporary shock to aggregate demand, members recognized that the outbreak of the Delta variant was delaying the recovery and had added to the uncertainty about the future," the RBA stated.

Breaking the News / NL