Jeffrey Sheen

Inflation, output and wage growth remain weak, with the continuing mining investment unwind a major negative contributor. After the two recent cuts in the cash rate, it makes sense now to wait some months to see if they might stimulate business investment. Also, it is advisable to keep some conventional monetary policy space available in the event of a major crisis. Unconventional ‘slope’ policies should be readied in (the low probability) case they are needed, but it should be understood they will have less impact than conventional interventions.

Outcome date: 
Monday 05 August 2019
Current rate: 
12 months: 
6 months: 

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