The RBA has decided to leave rates on hold today citing a slowing global economy and easing of pressures in the employment sector. I have attached below the notes from the RBA on the rationale for their decision this afternoon. At its meeting today, the Board decided to leave the cash rate target ... Read more
Statement by Philip Lowe, Governor: Monetary Policy Decision —June 6, 2023
Number2023-13 Date6 June 2023 At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 4.10 per cent. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.00 per cent. Inflation in Australia has passed its ... Read more
Media Release Statement by Philip Lowe, Governor: Monetary Policy Decision-2 May 2023
Number 2023-10 Date 2 May 2023 At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.85 per cent. It also increased the rate paid on Exchange Settlement balances by 25 basis points to 3.75 per cent. Inflation in Australia has passed its peak, ... Read more
Statement by Philip Lowe, Governor: Monetary Policy Decision-4 April 2023
Number2023-08 Date4 April 2023 At its meeting today, the Board decided to leave the cash rate target unchanged at 3.60 per cent and the interest rate on Exchange Settlement balances unchanged at 3.50 per cent. This decision follows a cumulative increase in interest rates of 3½ percentage ... Read more
Update on the Recent Banking Crisis-by Aziz Meherali CFP —16 March 2023
Regulators announced the closure of Silicon Valley Bank on March 10, an institution that specialized in providing banking and financial services to the technology and life sciences industries as well as private equity and venture capital firms. “Nearly half” of U.S. venture‑backed technology and ... Read more
Media ReleaseStatement by Philip Lowe, Governor: Monetary Policy Decision
Number 2023-07 Date 7 March 2023 At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.50 per cent. Global inflation remains very high. In ... Read more
Chief Economists’ Forum -14 Feb 2023
We attended the Chief Economists’ Forum Breakfast yesterday. As always, the line-up of speakers was exemplary. The general consensus was that the US will be in a recession later this year, albeit a mild one, whilst Europe is already in one. Australia, once again, might be the “Lucky Country” and ... Read more
Media Release: Statement by Philip Lowe, Governor: Monetary Policy Decision -7th February 2023
Number2023-04 Date7 February 2023 At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.35 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.25 per cent. Global inflation remains very high. It is, ... Read more
Robert Gottliebsen, Business Columnist, The Australian: Winners and losers of China’s economic boom revealed
Chinese tourists to Australia will almost certainly buy luxury goods given their cash position – great for up-market retailers. Picture: AFP Around the corridors of the World Economic Forum in Davos, Chinese delegates and a number of global institutions are alerting markets that the 2023 ... Read more
Statement by Philip Lowe, Governor: Monetary Policy Decision — December 6th 2022
Media Release Number2022-41 At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.00 per cent. Inflation in Australia is too high, at ... Read more
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