- Analytics
- News and Tools
- Market News
- RBA cuts interest rate. AUD/USD little changed
RBA cuts interest rate. AUD/USD little changed
Australia's central bank lowered its key interest rate for the first time in three months.
The board of the Reserve Bank of Australia governed by Glenn Stevens on Tuesday reduced the cash rate to 1.50 percent from 1.75 percent. The outcome of the meeting came in line with expectations.
The bank last slashed its rate by 25 basis points in May, which was the first reduction in a year.
The Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting.
Low interest rates supported domestic demand and the lower exchange rate since 2013 helped the traded sector. Although these factors assisted the economy to make the necessary economic adjustments, an appreciating exchange rate could complicate this, the bank noted.
Policymakers said the likelihood of lower interest rates exacerbating risks in the housing market has diminished.
© 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
