RBA interest rate decision: Reserve Bank keeps Australian cash rate on hold – business live

Sales fell 0.1% in July, pointing to weaker GDP numbers tomorrow. Follow here for all the developments after Australian interest rates kept on hold

Back in Australia the judgments on Governor Lowe and his fellow board members are rolling in. Kouk thinks he should be hauled before a parliamentary committee to explain his failure to meet the inflation target.

It's time for Treasurer Frydenberg to haul the RBA before the Parliament and ask WTF they are doing - missing the inflation and full employment targets for such an extended period is a disgrace - many other central banks did it, not the RBA

An over-leveraged consumer who has whittled away their savings and is devoid of any material pick up in wage growth is unlikely to increase discretionary spending particularly given recent consumer sentiment surveys point to rising concerns over the economic outlook #RBA https://t.co/YXankI1oAt

This might be a bit melodramatic but the RBA is fiddling while Rome burns (of course they are still doing better than the federal government who have their head stuck in the sand).

Stock markets are still subdued:

The ASX200 is down 2 points, or 0.02%, at 6,577.

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