Recent comments by Governor Lowe about the outlook for monetary policy all but confirmed that the Reserve Bank of Australia will leave interest rates at 1.5% at its final policy meeting of the year on Tuesday 5th December, and probably for a good while after that too. Indeed, if GDP growth stays below potential and inflation falls short of the RBA’s 2-3% target as we expect, rates will probably remain at 1.5% for all of 2018 and most of 2019.
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