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The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.25%
Policymakers reiterated that the economy is going through a very difficult period and is experiencing the biggest economic contraction since the 1930s.The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.25%
Policymakers noted that it is possible that the depth of the downturn will be less than earlier expected, as the rate of new cases has declined and some restrictions have been eased earlier than was previously thought likely.The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.25%
Policymakers noted that the economy is going through a difficult period, and projected that output will likely shrink by around 10% over the H1 and by 6% over the year as a whole.The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.25%
Policymakers said they will not increase the cash rate target until progress is being made towards full employment and until they are confident that inflation will be sustainably within the target of 2–3%.The Reserve Bank of Australia slashed the cash rate by 25bps to a new record low of 0.25%
The board said that they will not increase the cash rate target until progress is being made towards full employment and remains confident that inflation will be within the 2–3% target.Reserve bank of Australia
http://www.rba.gov.au/The Reserve Bank of Australia is the Australian Central Bank, founded in 1960. The Reserve Bank of Australia is responsible for issue of Australian dollar, it controls the activities of commercial banks and manages the gold and foreign currency reserves.
The RBA interest rate is adjusted on a monthly basis, and since 2008, it is gradually lowered to zero values.