Reserve Bank of Australia (RBA)


Australia expects to have created 40K new jobs in March

Australian economic progress may force RBA's hand sooner than expected

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April RBA meeting review

RBA leaves OCR unchanged at 0.10%

The Reserve Bank of Australia (RBA) board members decided to keep the official cash rate (OCR) steady at a record low of 0.10% during their April 5 monetary policy meeting. The RBA monetary policy statement read that the Australian economy remains resilient and spending is picking up following the omicron setback.

RBA: Inflation has picked up and a further increase is expected

Following are the key headlines from the April RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe."Will assess incoming information as its sets policy to support full employment in Australia and inflation outcomes consistent with the target."


March RBA meeting review

RBA keeps OCR on hold at 0.10%, AUD/USD unfazed

The Reserve Bank of Australia (RBA) board members decided to keep the official cash rate (OCR) steady at a record low of 0.10% during their March 1 monetary policy meeting. The RBA monetary policy statement read that the board is prepared to be patient.

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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.