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RBA: Monetary Policy Meeting Minutes August 3
17 August 2021
Under the baseline scenario, GDP was forecast to grow by a little above 4 per cent over 2022,and around 2½ per cent over 2023.
The Wage Price Index was forecast to increase gradually to around 2¾ per cent by the end of 2023, and broader measures of growth in labour costs were expected to be running at a slightly faster pace by that time.
The decision
The Board reaffirmed the existing policy settings, namely:
- maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement
- balances of zero per cent
- maintain the target of 10 basis points for the April 2024 Australian Government bond
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