In a surprise move to many analysts, the RBA today cut interest rates by 0.25% to 2.75%, a record low for Australia. The Board previously noted that the inflation outlook would afford scope to ease rates further. With inflation being a little lower than expected, Glenn Stevens, RBA Governor, in…
The Australian dollar climbed sharply last week after the RBA left interest rates on hold and indicated it is unlikely to cut rates in the near future. As predicted by the majority of economists, the Reserve Bank kept the benchmark cash-rate target at 3 per cent, a low previously reached…
Surprising the majority of economists yesterday, and against a 6 year “tradition” of lowering interest rates on Melbourne Cup Day, the Reserve Bank yesterday kept the official cash rate on hold at 3.25%. In his statement explaining the decision, Mr Stevens was more positive about the outlook for the US…
To the surprise of the majority of analysts and economists yesterday The Reserve Bank lowered the cash rate by 25 basis points to 3.25%, the lowest rate in three years, and the 5th cut in the past 12 months. In a statement accompanying the decision, RBA governor Glenn Stevens said…
Just as the majority of Economists predicted, at its monthly meeting today The Reserve Bank of Australia decided to keep the cash rate on hold, while it awaits indicative signs of the global economy. The cash rate remains 3.5 percent. ‘‘The RBA seems comfortable with the current accommodative monetary policy…
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