The Board decided to leave the cash rate unchanged at 0.75%

The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently.

The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the 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 steps to support the economy while continuing to address risks in the financial system.