At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The outlook for the global economy remains reasonable. There have been signs that the slowdown in global growth that started in 2018 is coming to an end. Global growth is expected to be a little stronger this year and next than it was last year and inflation remains low almost everywhere. One continuing source of uncertainty, despite recent progress, is the trade and technology dispute between the US and China, which has affected international trade flows and investment. Another source of uncertainty is the coronavirus, which ... (full story)

Australia’s official cash rate has been left on hold – for now – following the Reserve Bank’s first meeting of 2020. At the February policy meeting this afternoon, the Reserve Bank of Australia decided to keep the interest rate at the historic low of 0.75 per cent, following three previous rate cuts in June, July and October last year. The move was widely expected by finance leaders, with market analyst Kyle Rodda claiming market pricing had implied just a 20 per cent chance of a cut earlier today. However, that probability jumps to 100 per cent by May, according to Reuters. In his statement, RBA Governor Philip Lowe ... (full story)

The Reserve Bank of Australia has kept interest rates steady as it waits to see how the coronavirus outbreak and this summer's bushfires play out across the economy. The decision to keep the cash rate on hold at 0.75 per cent at its first meeting of the year was widely expected by the market, which is tipping the bank to cut by May to help boost wage growth and employment. The RBA will release new economic growth forecasts by the end of the week following the release of retail trade data and governor Philip Lowe is due to speak at the National Press Club on Wednesday, which will give a clearer picture of the bank's ... (full story)