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The RBA is confident in further economic outlooks for country, despite economic difficulties.
However, not all problems have been solved yet. Such factors as low investments in mining – main economic sector – can be seen due to fall of commodity prices. Nevertheless, economic stability is still supported by low interest rate at 2% since May 2015. This allows economy to feel better than forecasts expected.
RBA governor Glenn Stevens has assured markets in December that he saw not reasons for further negative tendency concerning forecasts. It possible means peak of economic fall in Australia has been over. Australia’s GDP rose by 0.9% in Q3, 2015, showing economic activity against previous quarters.
Certainly, such moments give a signal that the RBA is likely to remain unchanged its monetary policy in Q1, 2016.
There is no confidence now about further movement of Australian dollar against US dollar, which has entered normalisation of monetary policy. Global downward trend can put a positive impact on economic outlooks in Australia, serving as an additional factor of regulator’s calmness.