News

The RBA recap - UOB

Analysts at UOB Group noted that on Tuesday (5 Dec), the Reserve Bank of Australia (RBA) held its official cash rate (OCR) steady at a record low of 1.5% at its final interest rate decision for 2017 – giving mortgage holders an early Christmas present. 

Key Quotes:

"The Dec decision marks the 16th consecutive month that the OCR has been left at this historically low setting. The last time we saw this prolonged period of interest rate stability was back in 2013/14 when the cash rate was left on hold for 17 consecutive months. 

The concluding paragraph of the latest RBA’s accompanying statement was exactly the same in November, with the RBA stating that “The low level of interest rates is continuing to support the Australian economy.

Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time”."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.