Statement by Michele Bullock, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent. Last month, the Board increased interest rates by 25 basis points, following a period of four months where it had held interest rates steady. This decision reflected the Board’s view that progress in bringing inflation back to the target range of 2 to 3 per cent was looking slower than earlier forecast. While the economy has been experiencing a period of below-trend growth, it was stronger than expected over the first half of the ... (full story)
RBA leaves interest rate unchanged at 4.35% in December, as expected
The Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 4.35%, following the conclusion of its December monetary policy meeting on Tuesday. The decision came in line with the market expectations. The RBA’s Governor Michele Bullock presented the monetary policy statement, with the key highlights noted below. Whether further tightening of monetary policy is required to ensure that inflation returns to target in a reasonable timeframe will depend upon the data and the evolving assessment of risks. • Board remains resolute in its determination to return inflation ... (full story)
Interest rates on hold until February as RBA pauses
The Reserve Bank has left millions of borrowers a little more relaxed for their summer holidays, keeping interest rates on hold. Having responded to stronger-than-expected quarterly inflation figures by lifting the cash rate to 4.35 per cent in November, the RBA has used softer-than-expected monthly inflation data as an excuse to sit tight in December. With no meeting scheduled for January, borrowers should be safe from further rate rises until at least February. Since May 2022, interest rates have risen 4.25 percentage points, adding more than $1,200 a month to repayments on a $500,000 home loan with a 25-year term ... (full story)
RBA keeps rates on hold in Christmas reprieve
The Reserve Bank of Australia (RBA) has kept interest rates on hold in December, sparing borrowers of a sixth interest rate rise in 2023. Meeting at its Martin Place headquarters this afternoon, the RBA board decided to keep the official cash rate target steady at 4.35 per cent, citing a wealth of data that showed inflation in Australia is cooling. The news will come as a relief to thousands of households, which on average have paid more than $24,000 extra in interest as a result of 13 interest rate rises since May 2022. chart RBA Governor Michele Bullock said the board was closely watching domestic economic ... (full story)
- Older Stories
Interest rates are widely expected to remain on hold after the central bank's final monetary policy meeting of the year on Tuesday. Most experts are leaning towards no change to ...
USD’s rebound from its lows last Wednesday continued after three straight weeks of losses. Prices have bumped into the 200-day SMA at 103.57. The midpoint of the summer rally sits ...
AUD/USD endured a rollercoaster ride on Monday, opening sharply higher before reversing hard in European and North American trade, slamming it back below key downtrend resistance. ...
- Newer Stories
The ANZ World Commodity Price Index fell 1.3% m/m in November, ending the recent run of stronger prices. Food commodity prices generally fell while prices for logs and aluminium ...
Black Friday began earlier this year as many retailers tried to give sales a much-needed boost in November. While this had the desired effect initially, the momentum failed to ...