Reserve Bank of Australia

Australian Official Cash Rate Left at Record Low 1.5%

April 3, 2018

As recently as two months ago, Reserve Bank of Australia Board members were sticking to the prediction that growth would rebound at least to 3% this year. The February post-meeting statement asserted, “The Bank’s central forecast for the Australian economy is for GDP growth to pick up, to average a bit above 3 per cent over the […] More

Continuing Parade of March Purchasing Managers Surveys

April 3, 2018

While many markets had remained shut for Easter Monday, U.S. equities plunged yesterday, led by technology issues. Today in earlier trading, markets have paused comparatively speaking. Stocks closed down only 0.8% in China, 0.6% in Taiwan, and 0.5% in Japan and Singapore, and the Hang Seng rose 0.8%. Likewise, stocks in Europe have fallen 0.9% […] More

Australian Official Cash Rate Kept at Record Low of 1.5% as Expected

December 5, 2017

The OCR of the Reserve Bank of Australia has been 1.5% since a pailr of 25-basis point reductions in May and August of last year. Governor Lowe’s statement after this month’s Board meeting reiterates that wage and core price inflation, as well as long-term interest rates, continue to be low. It does not assert that […] More

Reserve Bank of Australia

November 7, 2017

Australia’s Official Cash Rate has been at a record low 1.5% since August 2016 when such was cut by 25 basis points. Even though the economy has not had a recession for over 20 years, price and wage inflation are currently low. The on-year rise in consumer prices, both total and core, continues to be […] More

Reserve Bank of Australia

October 3, 2017

The Official Cash Rate of the RBA was last reduced in August 2016, the second of two 25-basis point cuts that year. The OCR previously had been cut from a peak of 3.5% by 50 basis points in the final quarter of 2012, another 50 bps during 2013 and 50 bps in 2015, and the […] More

No Interest Rate Change from the Reserve Bank of Australia but New Language about the Australian Dollar

August 1, 2017

The latest monthly RBA meeting kept the Official Cash Rate at 1.5%, a record low since a 25-basis point cut a year earlier. A released statement kept the bank’s macroeconomic forecasts largely unchanged, but new language was introduced in the comment on the Australian dollar: The Australian dollar has appreciated recently, partly reflecting a lower […] More

Reserve Bank of Australia

July 4, 2017

Australia’s Official Cash Rate was again left at 1.5%, its level since the last of eight 25-basis point reductions from October 2012 to August 2016. A statement from Governor Lowe conveys no urgency to change the rate soon in either direction. The statement again warns that an appreciation of the Australian dollar would be an […] More

Reserve Bank of Australia

June 7, 2017

The June Board meeting on the 6th left Australia’s Official Cash Rate at 1.5% as expected. It was last changed in August 2016, a cut from 1.75%, and similar-sized reductions were authorized in October and December 2012, May and August 2013, February and May 2015, and May 2016. The main revelation from the released statement from […] More

Australian Monetary Policy Rate Stays at Record Low 1.5%

May 2, 2017

The RBA’s Official Cash Rate has been at 1.5% since 25-basis point reductions in May and August of 2016. A pair of 25-basis point cuts each were also implemented in the final quarter of 2012, May and August 2013 and February and May of 2015. Governor Lowe’s statement explaining today’s action acknowledged that inflation has […] More

Australian Official Cash Rate Left Unchanged at 1.50%

April 4, 2017

The Reserve Bank of Australia’s Board has maintained a 1.5% key interest rate since two of 25-basis point reductions in May and August of last year. Similar cuplets were engineered in October and December of 2012, May and August of 2013, such that February and May of 2015, leaving the rate to two percentage points below its […] More

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