Reserve Bank of Australia (RBA)


RBA to maintain the three-year yield target 

Reserve Bank of Australia latest emergency moves

RBA keeps Official Cash Rate steady at 0.25%, AUD/USD unmoved

At its scheduled July monetary policy meeting held Tuesday, the Reserve Bank of Australia (RBA) made no changes to its monetary policy settings once again, with the official cash rate (OCR) maintained a record low of 0.25%, as widely expected. “The board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian government bonds of 25 basis points,” the statement read.

RBA: Likely that fiscal, monetary support will be required for some time

Following are the key headlines from the July RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe. “Will maintain accommodative approach for as long as required.” “Board will not increase cash rate target until progress is made on employment, inflation objectives.” “Maintains 0.25% target on three-year bond yields.” “Prepared to scale-up its bond purchases again if needed.”

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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.



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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.