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Say goodbye to sugar cravings, ‘hangry’ crashes and distracting thoughts through your workday with some of our favorite workday recipe essentials! 

We like to think we are pretty good at snacking in the Food Matters HQ; Find a healthy array of snacks stashed in our draw, and the weekly shopping list always including carefully thought out snacks. Healthy fats. Tick. Protein. Tick. A dose of fiber. Tick. Nourishing nutrients. Tick. These are all things are important in our snacks. 

Here Are 7 of Our Favorite Workday Healthy Snacks

Chocolate Chia Protein Balls

Quick Almond Butter Cookies with Coconut, Hemp & Flax

Gluten-Free Turmeric Seeded Loaf

Pumpkin Fritters with Zucchini Hummus

Gut-loving Beetroot Hummus

Gluten-Free Zucchini & Feta Fritters

Chili, Lime & Tamari Trail Mix

Source : Food Matters 

Reproduced with the permission of the Food Matters team. This article by Rachel Morrow was originally published at www.foodmatters.com/ recipe/our-essentials-get-through-workday

Important:
This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you.  Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page. 

The first things we do each morning set the tone for the entire day ahead. If we awake tired and stressed, versus energized and ready to take on the day, most likely that feeling will stick with us throughout the rest of the day, affecting more than just our mood. That’s seven chances each week to create a new, productive, and life-changing routine. They say it takes two weeks to engrave an action as a habitual action. Change these 10 habits to reduce stress, change your health, and enhance your happiness, productivity, and intention for each day.

1) Checking Your Phone First Thing In The Morning

This one is one of the simplest tasks to change to restore our daily health and energy, yet it is also one of the hardest to adhere to. Most of us sleep with our phones on our bedside table, doubling as our midnight flashlight, clock, or alarm clock. (This alone is a wonderful habit to break! EMFs anyone?) It’s second nature to us, as we reach to silence the morning alarm, to continue to scan social media, check for missed messages, or respond to texts before we’ve even processed anything else. Instead, as you turn off your alarm, allow yourself to lay still for a couple minutes. Ease your eyes open, and take in the energy of the new day.

2) Hitting Snooze

Sound familiar? The alarm goes off and jolts us awake. We tell ourselves, “I’m so comfy…or I’m too tired. I can sleep for five more minutes.” So, we hit snooze to catch a few more z’s. Not only does the initial alarm sound pull us from our natural sleep cycle, but in trying to give our bodies a couple more minutes of rest we can actually end up doing the opposite. That few extra minutes can end up telling our bodies to change our internal clock as well as begin a new sleep cycle, leaving us ill-prepared for the next morning, wanting to sleep in even longer. Every time we hit snooze results in feeling more and more groggy as our bodies try to go deeper into a sleep cycle. Instead of a late night followed by a late morning, get those extra z’s in the night before. It’s actually more likely your body will feel rested and end up waking naturally before your alarm even goes off.

3) Skipping Breakfast

We’ve all heard it before – breakfast is the most important meal of the day, and there’s reason for this. I’m not saying we need a three course meal to start the day, but we certainly require some energizing brain food. Our bodies have been fasting all night since our last meal and require fuel. In our modern, fast-paced society, if we don’t eat something in the morning, many of us don’t eat a real meal until that afternoon when we feel starved and exhausted, and end up reaching for the nearest and often unhealthy options. This requires us to set the tone for the day ahead and begin the morning with a nutritious breakfast. Whether it’s an apple, banana, superfood smoothie, or a homemade omelette with sides and toast, take a conscious moment each morning to reflect on what your body needs to fuel itself. Even better, take the time to sit for at least ten minutes each morning to eat breakfast calmly and quietly before the hustle of the day begins.

4) Starting Off With Coffee

You slept through your alarm, missed breakfast, and are now late to work. There may not be time to stop for breakfast, but the day doesn’t start without caffeine, right? Sure, that jolt of coffee will stimulate the body first thing when we feel we don’t have any energy to spare, but in the long run it doesn’t do anything constructive for our health and will leave us with an energy crash mid-day, needing to refuel and start the cycle again. Not only does caffeine have a very acidic, dehydrating effect on the system first thing in the morning and on an empty stomach, it can also, over time, affect our adrenals and deplete our natural energy. Instead, first thing when we rise, consume at least one glass of room temperature or warm water with lemon. This will help to hydrate, energize, and detox the system naturally and caffeine-free. 

5) Rushing Through Your Morning

Whether we awoke on the wrong side of the bed or are stressing to get to work fast to prepare for a meeting or start that overwhelming task we’ve been putting off, starting the day off rushed and stressed sets the tone for the whole day. Rushing through the morning may get us to the office a few minutes faster, but it certainly won’t start us off on the right foot energetically or do anything to help us motivate for the day ahead. Take the the time to set a routine that cultivates the energy and lifestyle we want to live. Whether that means taking a few minutes of calm to set an intention for the day, meditate and breathe, spend a few extra moments with family, or cook up a fulfilling breakfast, make the time for it and do it with purpose.

6) Checking Mail

Still in bed, one eye still closed, we reach for our phones and scroll through our work email to see if so and so wrote us back or if there are any developments that require immediate attention. Instantly, our bodies tense as we see an email from our boss, a task that requires additional time, etc, etc. We become rushed and stressed before we are even out of bed as we decide to skip yoga, forget about breakfast and hurry to get to the office asap. Whether we have the option to work from home, practice unconventional work hours, or go to an office daily, creating a clear separation between work and homelife hours can help to reduce stress and work more efficiently. An email to a colleague, perhaps already at work, sends a message that you are also “at your desk”, and ready to work and communicate. If you don’t have conventional work hours or know, for instance, that you don’t focus well first thing in the morning, try to make your work day work for you by saving the major tasks until mid-morning or noon when you have gotten into a work flow.

7) Poor Dietary Choices

This one is a big one for us, as we are firm believers that you are what you eat and fuel your day with. Can poor morning dietary habits be just as bad as skipping breakfast? A day begun with a large coffee and a half a fast-food breakfast sandwich may provide calories, but doesn’t provide much in the sense of proper nutrition. A green smoothie, on the other hand, packed with raw, vibrant, natural produce, provides lasting energy that helps to fuel our bodies throughout the morning and replenishes it with the essential vitamins and minerals the ingredients contain. 

8) Going To Sleep Without A Plan

The intentions we set for the day ahead should begin the night before. When we go to sleep without a plan for the next day, we may go to sleep still thinking about work, how to resolve an issue, or planning the day to come. This doesn’t allow our minds or bodies to relax and reflect, but perpetuates that feeling into the next day, meaning we never stopped “working.” Before my workday is finished, I like to look over my agenda for the next day and plan out at least a loose schedule of the three largest tasks I have for the day. This helps me prioritize my time, have an understanding of my next day, and not have to worry or stress about what the next day will bring. Then I’m able to log off, shut my computer, and relax with family. 

9) Waking In A Dark Room

It may feel good to take it slow and get ready in a dark, cozy room, but we may be delaying our body’s natural ability to energize itself with the solar cycle. If we open the curtains, let the light in, and maybe even put some energizing music on, we, too, will become energized and motivated, ready to start the day.

10) Cold Start

When I wake up, the first thing I do is stretch, move and twist, to get my heart pumping and my energy flowing. Of course we’d all love to say we take the time to workout and move before we start our workday, but that may not be a realistic option for every schedule. We may have to squeeze our workouts in between lunch, after work, or every other day, making it that much more important to start your day off with some sort of movement, whether it be a good stretch or a couple sun salutations, before the daily grind to get the blood flowing, release endorphins, and energize the body and mind.

What Steps Do You Take To Improve Your Morning?

Source : Food Matters 

Reproduced with the permission of the Food Matters team. This article by Alle Weil was originally published at www.foodmatters.com/article/10-morning-habits-damaging-your-health

Important:
This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

When you look back at a big stock-market downturn, it can be hard to remember why everyone was convinced that the end had finally come. With the benefit of hindsight, it becomes clear that what appeared to be catastrophe was simply a large dip in a long-term upward path.

In the moment, the fear that the market will never recover holds such a strong grip that it can cause you to overreact and damage your long-term returns. The share market has been bouncing around a bit lately, so this may be a smart time to prepare yourself with a few ideas on how to stay the course through the next share slide, no matter when it comes.

The first and most important step, as always, is to design a diversified, low-cost portfolio that aligns with your goals, timeframe and risk tolerance. Then, sticking with your plan regardless of financial-market weather gives you the best chance for investment success.

Here are three ideas that may strengthen your resolve the next time share markets grow stormy:

Ignore the daily ups and downs

No one likes to see the value of their super or other investment fall. For that reason, some experts advise that you avoid checking your portfolio’s value frequently because day-to-day changes are meaningless, whether they are up or down.

If you do check, remember that those losses are only on paper. They become real only if you overreact and sell shares when prices are low. But that’s behaving like a driver who swerves to avoid hitting a piece of rubbish only to plow into a tree. It’s an overcorrection.

Over the long run, staying the course leads to significant gains. Vanguard research shows that over the last 30 years ending 30 June 2019, $10,000 would have grown to $146,337, $105,787 and $80,382 if invested in Australian Shares, Australian Bonds and International Shares respectively.

Consider saving more

At Vanguard, we believe investors should control what they can. You can’t control financial markets, but you can control costs and how much you invest. If you’re worried about predictions that financial-market returns will be below average in the next several years, you may want to set aside more. You may want to start by analysing whether you should salary sacrifice additional funds into your super. The more you save, the bigger your cushion against a fall.

Think about hiring an adviser

If you’ve ever hired a tradie to complete a home repair, or a coach to get you across the line in a marathon, you understand the value of professional help. A financial adviser can help you identify goals, create a plan to achieve them and be available to keep you on track when markets go haywire.

Please contact us in |PHONE| if you seek assistance on this topic.

Source : Vanguard September 2019

Written by Robin Bowerman, Head of Corporate Affairs at Vanguard.

Reproduced with permission of Vanguard Investments Australia Ltd

Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263) is the product issuer. We have not taken yours and your clients’ circumstances into account when preparing this material so it may not be applicable to the particular situation you are considering. You should consider your circumstances and our Product Disclosure Statement (PDS) or Prospectus before making any investment decision. You can access our PDS or Prospectus online or by calling us. This material was prepared in good faith and we accept no liability for any errors or omissions. Past performance is not an indication of future performance.

© 2019 Vanguard Investments Australia Ltd. All rights reserved.

Important:
Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

Australian economic growth has slowed to the weakest since the GFC. Talk of recession remains all the rage. And economists don’t have a great track record in predicting recessions globally – with an IMF study finding that of 153 recessions seen in 63 countries around the world between 1992 and 2014, economic forecasters only predicted five in April of the year before they started – so why should they pick one this time? As someone who forecast two of the last one recessions in Australia I am a bit wary. Perhaps the best way to predict recessions would be to forecast one every year and then you would have a perfect track record in predicting them! Some actually do this. But they are totally useless because they miss out on the 90% or so of the time that countries are not in recession and the positive lead this provides for share markets and other growth assets.

Recessions come along when there is a shock to the system (usually high interest rates), invariably at a time when the economy is vulnerable after a period of excess (such as rapid growth in spending, debt or inflation). The shock causes a loss of confidence, lots of little spending decisions are delayed and excesses are unwound. But given the natural tendency of most economies to grow given population growth and new innovations, increasing economic diversity, counter cyclical economic policies and the rise of the more stable services sector recessions are relatively rare at around 10-12% of the time globally. In Australia the last one was 28 years ago.

Why there has been no recession for 28 years

The absence of an Australian recession – whether defined by two quarterly GDP contractions in a row or negative annual growth – for 28 years is instructive. Many forecast recessions at the time of the 1997-98 Asian crisis, 2000-2002 tech wreck, the GFC and from around 2012 as the mining investment boom ended. But it didn’t happen. There are seven reasons why:

• economic reforms made the economy more flexible;

• the floating of the $A has seen it fall whenever there is a major economic problem providing a shock absorber;

• desynchronised cycles across industry sectors;

• strong growth in China that helped through the GFC;

• strong population growth; 

• counter cyclical economic policy – like stimulus payments and monetary easing that helped in the GFC; and

• good luck – which can never be ignored lest hubris set in!

But is our luck running out?

June quarter GDP growth was just 0.5%. And annual growth has fallen to 1.4% which is the slowest since the GFC and below population growth of 1.6%. Housing and business investment fell, and consumer spending remains very weak. Were it not for public spending and net exports the economy would have gone backwards in the June quarter. 

Source: ABS, AMP Capital

Going forward, the housing downturn has further to run with building approvals pointing to a further fall in home building.

Source: ABS, AMP Capital

This is likely to amount to a 0.5-0.6 percentage point pa direct detraction from growth. This along with low property turnover (less people moving) and lagged negative wealth effects from the earlier fall in house prices will all act as drags on consumer spending. In total the housing downturn is likely to detract around 1-1.2 percentage points from growth in the year ahead.

The drought will likely also act as an ongoing drag on growth with a “mild” El Nino hanging around although this may be modest at around a 0.2 percentage point growth detraction. The threats to global growth from trade wars also suggests downside risks to export growth.

The weakness in relation to the economy is clearly evident in soft profit results in the recent June half year profit reporting season. The ratio of upside surprise to downside was the weakest since 2009, only 58% of companies saw profits rise from a year ago and the proportion of companies raising or maintaining their dividends fell to the lowest since 2011 suggesting a lack of confidence. Earnings growth slowed to 1.3% and excluding resources stocks was around -2.4%.

Source: AMP Capital

Slow growth but probably not recession

Since last year our view has been less upbeat on growth than the consensus and notably the RBA. This remains the case as the housing construction cycle turns down and weighs on consumer spending. As a result, it’s hard to see much progress in reducing high combined levels of unemployment and underemployment, and hence wages growth and inflation are likely to remain low. But there remains a bunch of positives that should help the economy avoid a recession even though growth will remain weak for a while yet. Here are nine.

• Rate cuts and tax cuts should provide some growth boost – while July retail sales were disappointing, the experience from the GFC stimulus payments is that the tax cuts will provide some lift to growth in the months ahead and various retailers have expressed optimism about this recently.

• The threat of crashing property prices looks to be receding – while it’s so far been on low volumes, buyer interest has returned to the Sydney and Melbourne markets and we never saw the much-feared surge in non-performing loans or forced selling. This has helped remove the threat of a debilitating negative wealth effect on consumer spending.

• Infrastructure spending is booming – recent state budgets saw the projected peak in infrastructure spending pushed out yet another year to 2020. And it’s likely states will seek to take even greater advantage of ultra-low long-term borrowing costs to further push out the peak in infrastructure spending.

• The low $A is helping to support the economy – the $A is down 39% from its 2011 high and is likely to fall further and this provides a boost to Australian businesses that compete internationally by making them more competitive.

• The business investment outlook is slowly improving – the big drag on growth as mining investment fell back to more normal levels as a share of GDP is over and mining investment plans are rising. This is driving some pick-up in the outlook for overall business investment.

Source: ABS, AMP Capital

• Australia has a current account surplus – the June quarter saw the first current account surplus since 1975. The slide since then in iron ore and coal prices suggests it may not be sustained, but the reasons for the improvement are more than just commodity prices so the deficit is likely to be well below the norm of recent decades going forward. What’s more there has been a significant improvement in our foreign liabilities with a less short-term debt and a growing net equity position. This all means that our reliance on foreign capital inflow has declined. So much for the boiling frog!

• There is scope for extra fiscal stimulus – the Federal budget is nearly back in surplus and while we have had a long run of deficits our public finances are in good shape compared to the US, Europe and Japan. As a result, there is scope to provide more fiscal stimulus and this is probably more important than a narrow focus on the surplus.

• Population growth remains strong – Australia’s population growth at around 1.6% pa remains strong. Of course, strong population growth is not without issues and in terms of living standards it is economic growth per person (or per capita) that matters. But solid population growth also has significant benefits in terms of supporting demand growth, preventing lingering oversupply and keeping the economy dynamic. 

• Finally, cyclical spending (consumer durables, housing and business investment) as a share of GDP remains low – suggesting that apart from bits of the housing market there’s not a lot of excess in the economy that needs to be unwound.

Source: Bloomberg, ABS, AMP Capital

Concluding comment

Our assessment remains that growth will remain soft and that the RBA will have to provide more stimulus – by taking the cash rate to around 0.5% and possibly consider unconventional monetary policy like quantitative easing. Ideally the latter should be combined with fiscal stimulus which would be fairer and more effective. While Australian growth is going through a rough patch with likely further to go, recession remains unlikely barring a significant global downturn.

If you would like to discuss any of the issues raised by Dr Oliver, please call on |PHONE| or email |STAFFEMAIL|.

Source: AMP Capital 5 September 2019

Important notes: While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.

Buy now, pay later services do just what they say on the packet. You get to slip straight into the latest fashions, and providing you pay within the allotted time, you pay 0% interest. So far, so good.

But, like the proverbial free lunch, it’s worth looking closer. ASIC’s report¹ into this rapidly expanding sector looks at potential costs and pitfalls, as well as the benefits.

What are buy now, pay later services?

Branded the modern-day layby, ‘buy now, pay later’ services essentially offer the same thing, except you get the product up front—the outfit, the watch, even certain domestic flights within Australia.

Services, such as Afterpay, Openpay and zipPay, are offered by approved retailers and provide another form of payment option when you’re shopping online and sometimes instore.

You can buy a product, take it home and pay for it in instalments via an online buy now, pay later account, which deducts your preferred debit or credit card.

Report findings

ASIC found around two million or 10% of Australians had used these services by mid-2018, a five-fold increase in two years. Most users are millennials or Generation Z, aged 18-34.

ASIC puts the spotlight on buy now, pay later, Nov 2018.

And they like the experience, with four in five of them planning to do so again. Although most users also believe that these arrangements allow them to buy more expensive items, smaller and more frequent spending is the norm. The value of average transactions over the period fell from over $1,000 to just under $180.

Only one out of the six major providers examined the income and existing debts held by consumers before providing their services. ASIC also received reports of instances where consumers used a buy now, pay later arrangement despite having limited or no income and substantial existing debt.

How do they charge?

Many buy now, pay later services are interest and fee free (if you pay on time). If a payment is scheduled to be deducted and you don’t have the money in your account, and haven’t attempted to pay what is owed via other means, you’ll typically be charged a late fee.

For this reason, it’s important you have the right amount of money in your account when each instalment is due, and that you’re across any other charges that might be payable before signing up.

According to buy now, pay later services, such as Afterpay, late fees aren’t a primary revenue driver, with the group saying that 80% of its revenue is derived from merchant fees paid by retailers².

Another thing to consider, if you’re using your credit card, is while the buy now, pay later provider might not charge interest on your purchase, you may still have to pay interest to your credit card provider if you don’t pay the full amount owing on your credit card by the due date.

Things to consider

Price check your basket

Make sure you’re not paying more than you would if you shopped around. The Australian Securities and Investments Commission (ASIC) is considering the legal position of scenarios where a merchant inflates the cost of the underlying goods if a consumer uses a buy now, pay later arrangement.

Spending what you don’t have

While these services can be very handy if you have available funds and can pay on time, if you don’t, little debts stemming from things like late fees can quickly snowball into bigger debts, which can have various repercussions. For this reason, it’s a good idea to have a budget in place when it comes to spending, so you don’t get in over your head.

ASIC puts the spotlight on buy now, pay later, Nov 2018.

Plan ahead – consider linking your account to a debit card instead of a credit card, so you don’t compound any missed payments.

How your credit rating could be affected

Many buy now, pay later services don’t check your ability to make repayments, so if you’re already in the red, further debt could mean bad news and possibly debt collectors at your door. On top of that, while buy now, pay later services might not check your history, they’re still able to report any black marks against you to credit reporting agencies, which could make it hard to borrow money in future.

If you have a customer complaint

Because you’re not going direct to the retailer when using a buy now, pay later service, you might also want to check out the provider’s dispute resolution policy so that there are no surprises if something you purchased doesn’t turn up, or you want to refund or return something that wasn’t quite right.

More information

Retail assistants may not fully understand the ins and outs of the products they’re selling. So, as with any financial contract, make sure you read it and understand the terms and conditions before you sign up to any new service provider. Ensure you’re across things like fees and various other policies so you don’t get caught out.

1 ASIC puts the spotlight on Buy Now Pay Later, released 28 November 2018
2 Afterpay Fact Sheet, p8

Source : AMP August 2019

Important:
This information is provided by AMP Life Limited. It is general information only and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances and the relevant Product Disclosure Statement or Terms and Conditions, available by calling |PHONE|, before deciding what’s right for you.

All information in this article is subject to change without notice. Although the information is from sources considered reliable, AMP and our company do not guarantee that it is accurate or complete. You should not rely upon it and should seek professional advice before making any financial decision. Except where liability under any statute cannot be excluded, AMP and our company do not accept any liability for any resulting loss or damage of the reader or any other person. 

At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent.

The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans due to the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken further steps to support the economy, while continuing to address risks in the financial system.

Global financial conditions remain accommodative. The persistent downside risks to the global economy combined with subdued inflation have led a number of central banks to reduce interest rates this year and further monetary easing is widely expected. Long-term government bond yields have declined and are at record lows in many countries, including Australia. Borrowing rates for both businesses and households are also at historically low levels. The Australian dollar is at its lowest level of recent times.

Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed down by a protracted period of low income growth and declining housing prices and turnover. Looking forward, growth in Australia is expected to strengthen gradually to be around trend over the next couple of years. The outlook is being supported by the low level of interest rates, recent tax cuts, ongoing spending on infrastructure, signs of stabilisation in some established housing markets and a brighter outlook for the resources sector. The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income and a stabilisation of the housing market are expected to support spending.

Employment has grown strongly over recent years and labour force participation is at a record high. The unemployment rate has, however, remained steady at 5.2 per cent over recent months. Wages growth remains subdued and there is little upward pressure at present, with strong labour demand being met by more supply. Caps on wages growth are also affecting public-sector pay outcomes across the country. A further gradual lift in wages growth would be a welcome development. Taken together, recent labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.

Inflation pressures remain subdued and this is likely to be the case for some time yet. In both headline and underlying terms, inflation is expected to be a little under 2 per cent over 2020 and a little above 2 per cent over 2021.

There are further signs of a turnaround in established housing markets, especially in Sydney and Melbourne. In contrast, new dwelling activity has weakened. Growth in housing credit remains low. Demand for credit by investors continues to be subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.

It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments, including in the labour market, and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time.

Source: Reserve Bank of Australia, September 3rd, 2019

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