RBA can't sit on its hands forever

With declining real wages and a likely softening in inflationary pressures, the easing cycle has further to run.

The Reserve Bank of Australia (RBA) left rates unchanged at its July board meeting and, consistent with recent months, indicated that they will remain that way for some time yet. But with household spending slowing and Chinese authorities looking to ease excess capacity in their steel sector, the RBA faces a massive challenge to keep the economy on track before mining investment collapses.

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