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RBA Leaves Rates Unchanged

The Reserve Bank has again left interest rates unchanged, following its monthly board meeting.

The cash rate is 2.5%. It has been set at this rate since August last year.

Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth remains generally in line with policymakers’ objectives. Commodity prices in historical terms remain high, but some of those important to Australia have declined this year. [Read more…]


No Change To Interest Rates At Reserve Bank Board’s July Meeting

The Reserve Bank of Australia has left interest rates on hold for the eleventh month in a row.

The cash rate of 2.50% remains unchanged. It was last changed in August last year.

The Governor of the Bank, Glenn Stevens, said: “In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.”

Statement from the Governor of the Reserve Bank, Glenn Stevens.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth slowed a little earlier in the year but remains generally in line with policymakers’ objectives. Commodity prices in historical terms remain high, but some of those important to Australia have declined. [Read more…]


No Change To Interest Rates At Reserve Bank’s Monthly Meeting

The Reserve Bank has left interest rates on hold for the tenth consecutive month.

The Bank’s decision was made at its monthly meeting today.

The cash rate remains at 2.50%.

Statement by Glenn Stevens, Governor of the Reserve Bank of Australia.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth appears to have slowed a little in early 2014 but remains generally in line with policymakers’ objectives. Commodity prices in historical terms remain high, but some of those important to Australia have continued to decline of late. [Read more…]


Interest Rates On Hold For Eighth Month In Succession; Cash Rate Stays At 2.50%

The Reserve Bank of Australia has left interest rates on hold for the eighth month in succession, following its meeting today.

The cash rate is 2.50%. It was last changed in August last year, when the rate fell 0.25%.

A statement issued by the Governor of the bank, Glenn Stevens, says: “In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.”

Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy was a bit below trend in 2013, but there are reasonable prospects of a better outcome this year, helped by firmer conditions in the advanced countries. China’s growth appears to have slowed a little in early 2014 but remains generally in line with policymakers’ objectives. Commodity prices in historical terms remain high, though some of those important to Australia have softened further of late. [Read more…]


Interest Rates Remain On Hold As Reserve Bank Sees “Period Of Stability”

The Reserve Bank of Australia has left interest rates unchanged for the eighth consecutive month.

At its board meeting today, the RBA left the cash rate at 2.5%. The rate was last changed in August last year.

The Reserve’s Governor, Glenn Stevens, said rates were unlikely to change in the near future: “In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.”

Statement from the Governor of the Reserve Bank of Australia, Glenn Stevens.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy was a bit below trend in 2013, but there are reasonable prospects of a pick-up this year. The United States economy, while affected by adverse weather, continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth. China’s growth remains generally in line with policymakers’ objectives, though it may have slowed a little in early 2014. Commodity prices have declined from their peaks but in historical terms remain high. [Read more…]


Reserve Bank Leaves Interest Rates On Hold At 2.5%

The Reserve Bank of Australia has left interest rates unchanged, following its board meeting today.

The cash rate stays at 2.5%, where it has been since August last year.

Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Growth in the global economy was a bit below trend in 2013, but there are reasonable prospects of a pick-up this year. The United States economy, while affected by adverse weather, continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth, while China’s growth remains in line with policymakers’ objectives. Commodity prices have declined from their peaks but in historical terms remain high. [Read more…]


Interest Rates Unchanged At Reserve Bank’s Monthly Meeting

The Reserve Bank has left interest rates unchanged at its monthly meeting today.

As was widely expected, the Reserve has left the cash rate at 2.5%.

Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Since the Board’s previous meeting, information on the global economy has been consistent with growth having been a bit below trend in 2013, but with reasonable prospects of a pick-up this year. The United States economy continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth, while China’s growth remains in line with policymakers’ objectives. Commodity prices have declined from their peaks but in historical terms remain high. [Read more…]


No Change In Interest Rates This Month

The Reserve Bank of Australia has left interest rates on hold at its monthly board meeting today.

The pre-Christmas cash rate is unchanged at 2.50% where it has been since August.

Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries is well contained. [Read more…]


Reserve Bank Leaves Interest Rates Unchanged On Melbourne Cup Day

The Reserve Bank has left interest rates unchanged in a decision announced today.

The cash rate remains at 2.5%, where it has been since August. There have been two 0.25% reductions this year. The cash rate is the lowest it has been in half a century.

Statement issued by Glenn Stevens, Governor of the Reserve Bank of Australia.

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries is well contained.

Overall, global financial conditions remain very accommodative. Volatility in financial markets has abated recently. Long-term interest rates remain very low and there is ample funding available for creditworthy borrowers. [Read more…]


Treasurer And Reserve Bank Issue Statement On Monetary Policy

The Treasurer, Joe Hockey, has issued a joint statement with the Reserve Bank of Australia on monetary policy.

AustraliaHockey said the statement “records our agreed understanding of Australia’s monetary and central banking policy framework.” It reiterates the core place of monetary policy, the importance of the inflation target and the government’s commitment to the independence of the bank.

According to Hockey, the statement recognises “for the first time that the financial strength of the Reserve Bank is important for the credibility of its monetary and banking policy operations, and outlines the Treasurer’s role in ensuring the maintenance of a strong Reserve Bank balance sheet”.

Statement from the Treasurer, Joe Hockey.

Today I am releasing, with the Governor of the Reserve Bank of Australia, a joint Statement on the Conduct of Monetary Policy (the Statement).

The Statement records our agreed understanding of Australia’s monetary and central banking policy framework.

The Statement recognises that monetary policy is one of Australia’s core macroeconomic policy tools and its effective conduct is critical to our economic performance and prospects. [Read more…]