RBA: Will maintain highly accommodative settings as long as is required

Following are the key headlines from the August RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe.

Will not increase cash rate until progress made towards full employment and confident inflation will be sustainably within 2–3% band

Board continues to consider how additional monetary easing could support jobs as the economy opens up further

government bond markets are functioning well

Aussie dollar remains just a little below its peak of the past couple of years

Board views addressing the high rate of unemployment as an important national priority

Will maintain highly accommodative settings as long as is required

Wage and prices pressures remain subdued

The decline in June quarter output was smaller than in most other countries

Labor market conditions have improved somewhat over the past few months and the unemployment rate is likely to peak at a lower rate than earlier expected

Economic recovery is likely to be both uneven and bumpy

About RBA rate decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.