RBA Minutes: Sees lowering unemployment as national priority

RBA Minutes: Sees lowering unemployment as national priority


Dec 15, 2020 01:37 GMTFXStreet News
The Reserve Bank of Australia has published the minutes of the December policy meeting.
Minutes showed that its Board feared a protracted period of unemployment lay ahead and rectifying that would be a “national priority.”
Key notes
Australia’s labour market is recovering faster than expected thanks to an easing in coronavirus restrictions and a rebound in consumer spending, but it will still take years for unemployment to fall to desired levels, says the country’s central bank.
The Board agreed “substantial” monetary and fiscal support would be needed for a considerable period and remained ready to add more stimulus if needed.

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