Australia's central bank kept its key interest rate at a record low and the target yield on three-year government bonds unchanged, and vowed to maintain its accommodative approach as long as required amid the global coronavirus pandemic.
The board of Reserve Bank of Australia, governed by Philip Lowe, decided to maintain cash rate and the targeted yield on three-year government bonds of 25 basis points. The outcome of the meeting came in line with expectations.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.