The RBA is stuck in policy limbo

A collapse in mining investment is sure to shock the economy, but its timing and size remain a mystery to the Reserve Bank. However, the release of capital expenditure figures in coming days may dramatically reshape its outlook.

The Reserve Bank of Australia continues to take a neutral stance on policy but by acknowledging that there is “a significant degree of uncertainty about the outlook”, it is clear that our central bank has a lot to think about over the remainder of the year.

The RBA monthly board minutes are often a mixed bag. They occasionally provide additional insight into the central bank’s thinking but, more often than not, they communicate a dated view of the economy.

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