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Statement by Philip Lowe, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy have improved over 2017. Labour markets have tightened and further above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy continues to be supported by increased spending on infrastructure and property construction, although financial conditions have tightened somewhat as the authorities address the medium-term risks from high debt levels. Australia's terms of trade are expected to decline in the period ahead but remain at ... (full story)
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December RBA decision: interest rate held at 1.50% (again)
The Reserve Bank of Australia (RBA) has left the cash rate on hold again today at 1.50%, sparing Aussie homeowners from a pre-Christmas interest rate hike. What’s the December 2017 RBA Cash Rate? At this month’s meeting, the RBA board voted to leave the cash rate on hold at 1.50%. This marks the fifteenth meeting in a row the RBA has held rates steady, with the last rate movement taking place in August 2016 with a 25 basis point rate cut. Experts correctly predicted today’s decision, as all 26 economists surveyed by Bloomberg forecasted the cash rate would remain on hold in December. Financial markets put the ... (full story)
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