“There has not been any material upside surprise in inflation,” the Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said in a speech titled "Monetary Policy during Covid" at the Shann Memorial Lecture, adding that the central bank “will not raise cash rate until actual inflation is sustainably within the target band.”
RBA keeps rates steady in May, July meeting 'live'
Australian economic progress may force RBA's hand sooner than expected
The Reserve Bank of Australia (RBA), in its latest bulletin, mentioned in detail about the Australian dollar FX rate, with the key takeaways found below: “The exchange rate is influenced by a number of domestic and international factors.”
Christopher Kent, the Assistant Governor (Financial Markets), of the Reserve Bank of Australia has stated in a speech entitled, 'Small Businesses Finance in the Pandemic' ''small businesses play a critical role in the Australian economy.''
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May RBA meeting review
The Reserve Bank of Australia (RBA) board members decided to leave the official cash rate (OCR) on hold at a record low of 0.10% after concluding their May monetary policy meeting.
Following are the key headlines from the May RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe. Board will not increase cash rate until actual inflation is sustainably within 2-3% target range.
April RBA meeting review
Following the conclusion of its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to keep the official cash rate (OCR) unadjusted at a record low of 0.10%.
Following are the key headlines from the March RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe. "Board does not expect employment, inflation goals will be met until 2024 at the earliest."
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.
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.