FOREX TradingCharts.com

Financial News: Australia Retains Record Low Interest Rate

Australia Retains Record Low Interest Rate

07/03/2018 - 03:16:00 (RTTNews)

(RTTNews) - Australia's central bank decided to leave its key interest rate unchanged at a record low, as weaker currency supports exports amid fears of trade wars.

The board of the Reserve Bank of Australia, governed by Philip Lowe, on Tuesday, voted to maintain the cash rate at 1.50 percent. The bank had reduced the rate by 25-basis points each in August and May last year.

"The Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time," the bank said in a statement.

The bank reiterated the low level of interest rates is continuing to support the Australian economy. "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual," the bank said.

A gradual pick-up in inflation is expected as the economy strengthens. Inflation is forecast to be a bit above 2 percent in 2018.

The Australian dollar has depreciated a little, but remains within the range that it has been in over the past two years, the bank observed.

The bank provided a positive outlook for the labor market. The vacancy rate is high and other forward-looking indicators continue to point to solid growth in employment, the bank noted.

The RBA said the rate of wages growth appears to have troughed and there are increasing reports of skills shortages in some areas.

On property market, housing credit growth has declined, with investor demand having slowed noticeably. According to RBA, further tightening of lending standards by banks is possible, although the average mortgage interest rate on outstanding loans has been declining for some time.

Overall, growing global and housing concerns may have made the RBA even less keen to raise interest rates, Paul Dales, an economist at Capital Economics, said. While a rate cut remains improbable, it is becoming increasingly likely that interest rates may not be raised until 2020.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Singapore Inflation Data Due On Monday (02 hr(s), 07 min(s), 11 sec(s) ago)
(RTTNews) - Singapore will on Monday release June numbers for consumer prices, highlighting a ligh ...Full Story»

BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin (11 hr(s), 09 min(s), 11 sec(s) ago)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story»

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5% (11 hr(s), 08 min(s), 11 sec(s) ago)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story»

BRAZIL: 661 Jobs Were Closed In June (11 hr(s), 07 min(s), 11 sec(s) ago)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story»

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million (11 hr(s), 16 min(s), 11 sec(s) ago)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story»

BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%) (11 hr(s), 23 min(s), 11 sec(s) ago)
(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost stren ...Full Story»

EMBRAER: Company Delivers 48 Aircraft In 2Q18, 11 Less Than In 2Q17 (11 hr(s), 26 min(s), 11 sec(s) ago)
(RTTNews) - Brazil's Embraer delivered 48 aircraft in the second quarter of 2017 (28 commercia ...Full Story»

A (11 hr(s), 28 min(s), 11 sec(s) ago)
(RTTNews) - a For comments and feedback: contact editorial@rttnews. ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Singapore Inflation Data Due On Monday

07/22/2018 - 18:00 PM (RTTNews)
(RTTNews) - Singapore will on Monday release June numbers for consumer prices, highlighting a ligh ...Full Story>>

BRAZIL: 661 Jobs Were Closed In June

07/21/2018 - 09:00 AM (RTTNews)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story>>

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5%

07/21/2018 - 08:59 AM (RTTNews)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story>>

BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin

07/21/2018 - 08:58 AM (RTTNews)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story>>

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million

07/21/2018 - 08:51 AM (RTTNews)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.