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- Reserve Bank of Australia kept interest rate unchanged at 2.5%
Reserve Bank of Australia kept interest rate unchanged at 2.5%
The Reserve
Bank of Australia released its interest rate decision. Interest rate remained
unchanged at a record low 2.5%. Market participants had expected this decision.
The RBA
decided to continue accommodative monetary policy. Accommodative monetary
policy should provide support to demand and to economic growth.
The Reserve
Bank of Australia governor Glenn Stevens said that exports were rising “strongly”
and the Australian dollar remained strong by historical standards.
Inflation
target by the RBA is 2-3% over the next two years.
Australia’s
central bank has reduced its interest rate by a cumulative 225 basis points
since November 2011.
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