FOREX TradingCharts.com

Financial News: Australia CB Holds Rate At Record Low; Sticks

Australia CB Holds Rate At Record Low; Sticks To Tapering

09/07/2021 - 02:16:00 (RTTNews)

(RTTNews) - Australia's central bank decided to keep its key interest rate unchanged at a record low and to continue with the scaling back of its bond purchases.

The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate unchanged at a record low of 0.10 percent.

The board maintained the target of 10 basis points for the April 2024 Australian Government bond.

The RBA pressed ahead with tapering its asset purchases. The bank today decided to purchase government securities at the rate of A$4 billion a week and to continue the purchases at this rate until at least mid February 2022.

The Bank pitched the decision as providing more stimulus as it now pledged to extend those purchases "at least until February 2022" instead of the Bank's previous commitment to keep them in place until mid-November, Marcel Thieliant, an economist at Capital Economics, said.

GDP is expected to decline materially in the September quarter and the unemployment rate will move higher over coming months, the bank said.

However, the bank noted that this setback to the economic expansion is expected to be only temporary. The Delta outbreak is expected to delay, but not derail, the recovery.

The board repeated that it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 percent target range. The central scenario for the economy is that this condition will not be met before 2024.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Taiwan Export Orders Rise More Than Expected (02 hr(s), 50 min(s), 44 sec(s) ago)
(RTTNews) - Taiwan's export orders increased more than expected in August, data from the Minis ...Full Story»

Italy Consumer Confidence Improves In September (02 hr(s), 58 min(s), 44 sec(s) ago)
(RTTNews) - Italy's consumer confidence improved in September, survey results from the statist ...Full Story»

Sweden Producer Prices Surge In August (03 hr(s), 05 min(s), 44 sec(s) ago)
(RTTNews) - Sweden's producer prices continued to increase in August, figures from Statistics ...Full Story»

UK Retail Sales Growth Eases Sharply In September: CBI (03 hr(s), 51 min(s), 44 sec(s) ago)
(RTTNews) - UK retail sales grew at the slowest pace in six months in September, the latest Distri ...Full Story»

German Ifo Business Confidence Falls For Third Month (04 hr(s), 06 min(s), 44 sec(s) ago)
(RTTNews) - German business confidence weakened for the third straight month in September as the s ...Full Story»

Czech Economic Confidence Weakens In September (05 hr(s), 29 min(s), 44 sec(s) ago)
(RTTNews) - The Czech economic confidence decreased in September, survey results from the Czech St ...Full Story»

Turkey Manufacturing Capacity Utilization Increases In September (05 hr(s), 36 min(s), 44 sec(s) ago)
(RTTNews) - Turkey's manufacturing capacity utilization rate rose in September, figures from t ...Full Story»

German Business Confidence Weakens In September (05 hr(s), 59 min(s), 44 sec(s) ago)
(RTTNews) - German business confidence weakened for the third straight month in September, survey ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Taiwan Export Orders Rise More Than Expected

09/24/2021 - 07:49 AM (RTTNews)
(RTTNews) - Taiwan's export orders increased more than expected in August, data from the Minis ...Full Story>>

Italy Consumer Confidence Improves In September

09/24/2021 - 07:41 AM (RTTNews)
(RTTNews) - Italy's consumer confidence improved in September, survey results from the statist ...Full Story>>

Sweden Producer Prices Surge In August

09/24/2021 - 07:34 AM (RTTNews)
(RTTNews) - Sweden's producer prices continued to increase in August, figures from Statistics ...Full Story>>

UK Retail Sales Growth Eases Sharply In September: CBI

09/24/2021 - 06:48 AM (RTTNews)
(RTTNews) - UK retail sales grew at the slowest pace in six months in September, the latest Distri ...Full Story>>

German Ifo Business Confidence Falls For Third Month

09/24/2021 - 06:33 AM (RTTNews)
(RTTNews) - German business confidence weakened for the third straight month in September as the s ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.