At its meeting today, the Board decided to: • maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent • maintain the target of 10 basis points for the April 2024 Australian Government bond • continue to purchase government securities at the rate of $4 billion a week until at least mid February 2022. The Delta outbreak has interrupted the recovery of the Australian economy and GDP is expected to have declined materially in the September quarter. The outbreak is affecting many parts of the economy, but the impact is uneven, with some areas facing very ... (full story)

AUD/USD takes offers towards the intraday low of 0.7261, down 0.23% on a day, after an initial inaction to the Reserve Bank of Australia (RBA) monetary policy announcement on early Tuesday. Although the RBA kept the benchmark interest rate unchanged at 0.10%, also keeping the weekly bond purchase at $4.00 billion, the rate statement raised doubts over the Aussie economic expansion due to the pandemic-led local lockdowns. Earlier in the day, Australia Trade Balance improved for August but the Imports and Exports dropped for the stated month. Also on the negative side was the ANZ Job Advertisement for September that ... (full story)