The Reserve Bank of Australia (RBA) published the Minutes of its March monetary policy meeting on Tuesday, highlighting that the Board members did not consider the option for an interest rate rise. Additional details of the RBA Minutes suggest that it was difficult to either rule in or out future changes in the cash rate.
Analysts at TD Securities don't think that the latest employment data from Australia will bring the Reserve Bank of Australia (RBA) closer to lowering its policy rate.
Reserve Bank of Australia Assistant Governor Christopher Kent said on Monday that there is no change to current rundown of balance sheet by holding bonds to maturity.
The Reserve Bank of Australia (RBA) board members decided to hold the Official Cash Rate (OCR) steady at 4.35% after its March monetary policy meeting on Tuesday. The policy announcement was widely expected by the markets. The RBA extended its pause for the third meeting in a row, having lifted the rate by 25 basis points (bps) in November.
At its February policy meeting, the RBA decided to keep the policy rate steady at 4.35% for the second meeting in a row. The central bank, however, left the door ajar for further tightening.
The Reserve Bank of Australia (RBA) board members decided to raise the Official Cash Rate (OCR) from 4.10% to 4.35%, following the conclusion of the November monetary policy meeting on Tuesday.
Following its October monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 4.10%, as widely expected.
The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes.
The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.
Michele Bullock is an Australian economist who is currently governor of the Reserve Bank of Australia. She commenced as governor on 18 September 2023, and is the first woman to hold the role. She is Chair of the Reserve Bank Board, Payments System Board and Council of Financial Regulators. Prior to her current role, Ms Bullock was the Deputy Governor of the Reserve Bank of Australia.
Bullock on his RBA profile and Wikipedia.
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.