It is reasonable to expect that an extended period of low-interest rates will be required for Australia to reach full employment and achieve the inflation target. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time. Earlier in the day, the UK’s BRC Retail Sales Monitor rose by 0.1% in October, year-on-year, partially reversing a 1.7% slide from September.