The Reserve Bank of Australia (RBA), at its December monetary policy meeting held this Tuesday, maintained its official cash rate (OCR) at a record low of 0.75%, as widely expected.
Reserve Bank of Australia Interest Rate Decision
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December RBA meeting review
Following are the key headlines from the December RBA monetary policy statement (via Reuters): Outlook for global economy is reasonable but risks tilted to the downside. Rates to remain low for extended period.
October RBA meeting review
The Reserve Bank of Australia (RBA), at its October monetary policy meeting held on Tuesday, cut its official cash rate (OCR) by 25bps at a record low of 0.75%, as widely expected.
Following are the key headlines from the October RBA monetary policy statement (via Reuters): Reasonable to expect extended period of low rates. RBA will ease further if needed. Gentle turning point appears to have been reached.
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?
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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.