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
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