logo
  

Australia Central Bank Maintains Monetary Policy

Australia central bank left its key interest rate and the yield target for government bonds unchanged, as widely expected, on Tuesday.

The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate unchanged at a record low of 0.10 percent.

The board maintained the target of 10 basis points for the April 2024 Australian Government bond.

The board also decided to continue to purchase government securities at the rate of A$5 billion a week until early September and then A$4 billion a week until at least mid November.

The bank reiterated that it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 percent target range. The central scenario for the economy is that this condition will not be met before 2024.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT