Can You Help?

This website is in imminent danger of being shut down. It has been online since 1995, but the personal circumstances of the owner, Malcolm Farnsworth, are such that economies have to be made. Server costs and suchlike have become prohibitive. At the urging of people online, I have agreed to see if Patreon provides a solution. More information is available at the Patreon website. If you are able to contribute even $1.00/month to keep the site running, please click the Patreon button below.


Become a Patron!


Interest Rates: Reserve Bank Maintains Monetary Policy Settings

Jul 06, 2021

At its latest meeting, the Reserve Bank of Australia board has maintained existing monetary policy settings.

Meeting, as usual, on the first Tuesday of the month, the Board decided to:

  • retain the April 2024 bond as the bond for the yield target and retain the target of 10 basis points
  • continue purchasing government bonds after the completion of the current bond purchase program in early September. These purchases will be at the rate of $4 billion a week until at least mid November
  • maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent.

The media release from Governor Philip Lowe is shown below.


Filed Under: Reserve Bank Tagged With: ,

The Great Recession: Economic Data

Sep 02, 2020

These documents from the Australian Bureau of Statistics and the Reserve Bank of Australia clearly show the impact of COVID-19 on the Australian economy in a range of areas.

The document was issued with the publication of economic data showing that Australia’s economic growth declined by 7% in the last quarter, officially putting Australia in recession.

Both documents can be enlarged to full screen and may also be downloaded.



Filed Under: Coronavirus, Economy, Reserve Bank Tagged With: , ,

Reserve Bank Sets Historic Low 0.75% Cash Rate

Oct 01, 2019

The Reserve Bank has cut the cash rate by 25 basis points to a historic low of 0.75%.

The decision was announced by the Governor of the bank, Philip Lowe, at 2.30pm today.

The cash rate was last changed three months ago, in July, when it was reduced from 1.25% to 1.00%. In June, it had been reduced to 1.25%. The rate had been held at 1.50% since August 2016.

Statement by Philip Lowe, Governor of the Reserve Bank of Australia.

Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent.

While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The US–China trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken further steps to support the economy, while continuing to address risks in the financial system. [Read more…]

Filed Under: Reserve Bank Tagged With:

Reserve Bank Cuts Rates To One Per Cent – Second Cut In Two Months

Jul 02, 2019

The Reserve Bank of Australia has cut interest rates by another 0.25% to a historic low of 1%.

Today’s announcement is the second reduction in two months.

Statement By Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent. This follows a similar reduction at the Board’s June meeting. This easing of monetary policy will support employment growth and provide greater confidence that inflation will be consistent with the medium-term target.

The outlook for the global economy remains reasonable. However, the uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy are tilted to the downside. In most advanced economies, inflation remains subdued, unemployment rates are low and wages growth has picked up. The slowdown in global trade has contributed to slower growth in Asia. In China, the authorities have taken steps to support the economy, while continuing to address risks in the financial system. [Read more…]

Filed Under: Reserve Bank Tagged With:
Next Page »