At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The outlook for the global economy remains reasonable, although the risks are tilted to the downside. Growth in international trade has declined and investment intentions have softened in a number of countries. In China, the authorities have taken steps to support the economy, while addressing risks in the financial system. In most advanced economies, inflation remains subdued, unemployment rates are low and wages growth has picked up. Global financial conditions remain accommodative. Long-term bond yields are low, consistent ... (full story)

The Reserve Bank of Australia (RBA), at its May monetary policy meeting held this Tuesday, made no adjustment to its official cash rate (OCR) and maintained it at a record low of 1.50 percent for the thirtieth straight meeting, disappointing the hawks big time. (full story)