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RBA Upbeat on Economy

RBA Upbeat on EconomyRBA Upbeat on Economy

The Reserve Bank of Australia said on Friday it sees “reasonable prospects” of achieving sustainable economic growth as solid demand from China boosts commodity prices and revives the terms of trade, suggesting further cuts in interest rates are off the agenda, Reuters reported. Its optimism was underpinned by a robust 0.6% rise in retail sales in September, marking the best two months since the middle of last year. The data, which also came out on Friday, points to some momentum in consumer spending going into the all-important Christmas shopping period.

 

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