- Analytics
- News and Tools
- Market News
- Australia: RBA keeps rates at 2.25%
Australia: RBA keeps rates at 2.25%
After cutting rates in February the Reserve Bank of Australia kept its rates steady at 2.25% although the fall of commodity prices weighs on the Australian economy - the price of iron ore, accounting for 20% of Australia's exports, set a new 10-year low last week. In China, the country's biggest trade partner, the economy is slowing. The RBA wants to assess the effects of the last cut before taking further measures but another rate-cut is likely to happen. In a statement the RBA noted that even lower exchange rates will be needed in order to achieve the targeted economic growth. The bank said that domestic demand is quite weak.
The Australian dollar rallied after the announcement, currently trading at USD0.7674.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
