The four charts that prompted the RBA to keep rates on hold in September

The four charts that prompted the RBA to keep rates on hold in September
The four charts that prompted the RBA to keep rates on hold in September

The RBA decided to keep the official cash rate on hold at a record low one per cent at its September meeting.

It follows a hold last month.

The charts came out on the RBA learning that GDP growth slid to 1.4 per cent over the June quarter, the slowest in a decade.

The result was in line with economists' expectations.

Today the RBA have released their chart pack, which highlights key factors in the Australian economy.

Property Observer takes a look at four key charts which will have been strong influencers in the decision to cut the official interest rate.

HOUSE PRICES CONTINUED TO REBOUND

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The four charts that prompted the RBA to keep rates on hold in September

 

House prices continued their uptick, driven by Sydney and Melbourne.

In his meeting statement, RBA governor Philip Lowe noted the further signs of property turnaround, particularly in Sydney and Melbourne.

CONSUMER SENTIMENT REMAINS RELATIVELY STRONG

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The four charts that prompted the RBA to keep rates on hold in September

Westpac's Matthew Hassan noted that consumer confidence is at its highest in five years.

Westpac research broke down where sentiment was growing state by state.

LABOUR MARKET NOT HITTING TARGETS

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The four charts that prompted the RBA to keep rates on hold in September

The labour market is one of the key indices which the RBA are keeping their eye on.

In July the unemployment rate remained unchanged at 5.2 per cent. 

Richard Holden says our progress on wages and unemployment is almost non-existent.

BUILDING APPROVALS CONTINUE DECLINE

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The four charts that prompted the RBA to keep rates on hold in September

 

Building approvals across the country continue to decline, led by New South Wales.

JLL noted Sydney apartment approvals were down 30 per cent

There was a sharp 9.7 per cent drop in July across the country, taking approvals to a six and a half year low.

 

 

 

 

Tags: 
Rba Rate Decision Rba Insights

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