Skip to main content

RBA SLASHES RATES TO NEW RECORD LOW

At today’s meeting on monetary policy, the RBA Board has cut the official cash rate to 2 per cent, a new historic low for the Australian market.


RBA Governor Glenn Stevens attributes the following economic factors to today’s decision:

Global Growth: “Is expanding at a moderate pace, but commodity prices have declined over the past year, in some cases sharply.”

Australian Growth: “Looking ahead, the key drag on private demand is likely to be weakness in business capital expenditure in both the mining and non-mining sectors over the coming year. Public spending is also scheduled to be subdued. The economy is therefore likely to be operating with a degree of spare capacity for some time yet."

Unemployment and Demand: “Available information has shown improved trends in household demand over the past six months and stronger growth in employment.”


Inflation: “Inflation is forecast to remain consistent with the target over the next one to two years, even with a lower exchange rate.”

The decision: “The Board judged that the inflation outlook provided the opportunity for monetary policy to be eased further, so as to reinforce recent encouraging trends in household demand.”

You can read the full statement here.

Comments

Popular posts from this blog

Melbourne Earthquake?

Image extracted from The Age Was it an earthquake just now? Updates:  4.5 earthquake rocked south Victoria (near Moe) at July 20, 2012 7:11pm News Update:  News.com.au  or ninemsn  or The Age .

Brivis Heater - Error Code #69

My Brivis HX23 Heater broke down this week.  H01 Code #69.  This code was not even listed in the User Manual!  Searching around the web and here is what I found: Secret Reset: This is not in the User Manual.  On the networker controller press FUNCTION > 1 > 4 keys and the screen will go blank and come back on after 30 seconds, this has rebooted the main PCB and reset the fault code. Use this with caution as too much gas build up could cause an explosion. Use it only after the unit has enough time to air out the gas build up. What is Code #69 or any other unpublished codes?  The best way to find out is to open up the heater unit.   There is a little LCD on the PCB showing what error exactly is. (Note: Opening up the unit may void your warranty.)

Restricted enrolment schools (Melbourne Eastern Region)

Due to facility limitations, Eastern Metropolitan Region has a number of schools with enrolments restricted in various ways. These schools are not required to enrol students outside their neighbourhood area unless they have spare places. They are referred to as having an enrolment ceiling and/or a designated neighbourhood area (formerly known as zones).  Any additional students must be enrolled strictly according to Department of Education and Early Childhood Development priority criteria. SCHOOLS WITH AN APPROVED ENROLMENT UNDERSTANDING Designated Neighbourhood Area In some instances the Regional Director may need to restrict new enrolments at a particular school and will therefore specifically designate the neighbourhood area (formerly referred to as a zone).  Children who live outside the Designated Neighbourhood Area cannot be guaranteed a place at that school even if it is their closest neighbourhood school.  The the following schools have an apporved Designated Nei