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

The cash rate of 2.5% was set in August 2013 and has remained unchanged since then. It is the longest period of interest rate stability since 2005-06.

In a statement, the bank’s Governor, Glenn Stevens, said: “The exchange rate has declined recently, in large part reflecting the strengthening US dollar, but remains high by historical standards, particularly given the further declines in key commodity prices in recent months. It is offering less assistance than would normally be expected in achieving balanced growth in the economy. Looking ahead, continued accommodative monetary policy should provide support to demand and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years.”

• Interest Rate Movements Since 1990

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. [Read more…]

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%.

• Interest Rate Movements Since 1990

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…]

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.”

• Interest Rate Movements Since 1990

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…]

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.

• Interest Rates Since 1990

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…]