Reserve Bank of Australia (RBA)


RBA hikes OCR by 50 bps, flags more tightening ahead

RBA LAST MOVEMENTS ON CORONAVIRUS COUNTERING

Australia: RBA could slower the pace of rate hikes – UOB

The Reserve Bank of Australia (RBA) decided to increase the cash rate target by 50bps to 1.85%. It also increased the interest rate on Exchange Settlement balances by 50bps to 1.75%. This is the third consecutive month that the RBA has raised rates by 50bps, and at 1.85%, the cash rate is at its highest since Apr 2016.

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August RBA meeting review

RBA raises OCR by 50 bps to 1.85%, AUD/USD drops

The Reserve Bank of Australia (RBA) board members decided to increase the official cash rate (OCR) by 50 basis points (bps) from 1.35% to 1.85% at its August 2 monetary policy meeting. The central bank said the hike was a further step in the "normalization" of policy, dropping a previous reference to removing "extraordinary" stimulus in its policy statement.


July RBA meeting review


June RBA meeting review

RBA raises OCR by 50 bps to 0.85%, AUD/USD spikes towards 0.7250

The Reserve Bank of Australia (RBA) board members announced a 50 basis points (bps) hike to its official cash rate (OCR), lifting it from 0.35% to 0.85% at their June 7 monetary policy meeting. The RBA surprised markets once again to the upside, as they had priced in a 25 bps lift-off.

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Big Picture

What is the RBA?

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.

Who is RBA's president?

Philip Lowe is an Australian economist, born in Wagga Wagga, New South Wales. He is the current Governor of the Reserve Bank of Australia, having succeeded Glenn Stevens on 18 September 2016. He was previously deputy governor under Stevens from 2012.

Lowe on his profile and Wikipedia.



Interest rates latest news

The World Interest Rates Table

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.