This week the Reserve Bank of Australia (RBA) left the cash rate on hold at 0.75%, a record low for Australia. Australian economic growth has remained slow in 2019 to date, for a range of global and local reasons including trade disruptions, drought and reluctant business investment. The RBA’s latest forecasts (published in the November Statement on Monetary Policy) indicate no substantial improvement in the pace of growth is expected in 2020.
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