What happens after interest rates hit zero? Stay tuned for 0030GMT to find out! Statement by RBA governor Glenn Stevens: At its meeting today, the board decided to lower the cash rate by 25 basis points to 4.5 per cent, effective 2 November 2011. Globally, the news has been mixed recently. We expect the RBA to cut the cash rate by 25 basis points to be announced at 230 today. Author: Eamonn Sheridan | Category: Central Banks. Economic growth forecasts have been rapidly revised down and a deep contraction is widely expected. RBA Statement today ... "What does it all mean?" Today's decision marks the seventh month in a row without a change. The economic recovery slowed as a result of the rise in new COVID-19 cases, however. Reserve Bank (RBA) Governor Lowe previously outlined the RBA’s forecasts in a recent speech.Today we … After the RBA's last formal meeting until February next year, governor Philip Lowe said in a statement "the economic recovery is under way" and "recent … RBA Rate Statement Discussion. Today's statement by Reserve Bank Governor Glenn Stevens on the rate rise. Today the RBA and its Responsible Minerals, Labor and Factory Initiatives have more than 380 members with combined annual revenues of greater than $7.7 trillion, directly employing over 21.5 million people, with products manufactured in more than 120 countries. READ MORE: Live coverage of the Australian Federal Budget 2020. Yes, this is the last stop before zero. The RBA has cut the official interest on Tuesday from 0.25% to 0.1%, as widely expected. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Enrich the conversation; Stay focused and on track. December 1, 2009 — 2.44pm. A sustainable inflation target within the 2-3% target range will be required for the RBA to scale back current policy support, according to today’s statement. It may be that there is nothing new in the statement, but there is always something new that the market may interpret differently. Shares and property will be in the sights of those holding low-yield deposits. The RBA have resisted a cut to the official cash rate at their October meeting today, with the budget announcement tonight expected to have kept the RBA waiting. Today, RBA Governor Philip Lowe in his monetary statement said the bank is doing its best to revive the nation from its current COVID-19 recession. Tue 4 Jun 2019 02:03:46 GMT. While infection rates have been on the rise in Europe and the U.S, positive vaccine news should support an economic recovery. One of the most … This is good news, but the recovery is still expected to be uneven and drawn out and it remains dependent on significant policy support," RBA Governor Philip Lowe said in a statement. The Statement today from Stevens will seek to 'talk down' the AUD in some way, Whether its successful or not we'll have to see, but I'd suggest any dip in the AUD on the Statement today … Author: Eamonn Sheridan | Category: Central Banks. Fri 6 Nov 2015 04:42:45 GMT. RBA Statement on Monetary Policy RBA Forecasts a Stronger Recovery The Reserve Bank (RBA) released its quarterly Statement on Monetary Policy earlier today. The RBA’s decision to hold the cash rate at 0.25 per cent means interest rates on loans will remain stable, which will help many households and businesses manage their cash flow. On Tuesday the RBA eased policy aggressively so I suspect the Statement on Monetary Policy today (SoMP) to pass by without too much of a ripple. Cash rate slashed to historic low: How it affects you “This extended period of high unemployment and excess capacity is expected to result in subdued increases in wages and prices over coming years,” he said. It provided insights on the RBA’s thoughts around the outlook. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negative (or bearish). RBA statement ... RBA statement. It was only a subtle difference to the RBA’s previous assertion that the next move in the cash rate was likely to be higher. Globally, the news has been mixed recently. “The cash rate is as low as it's going to go, and the next move in rates will be up but it's at least three years away, probably more,” AMP Capital chief economist Shane Oliver told the Finder cash rate survey. By Eamonn Sheridan RBA boss Philip Lowe says the economy has ‘turned the corner’ and laid out the key considerations for extending the $100 billion quantitative easing program. One key change was the insertion of the comment “if the economy continues to perform as expected, higher interest rates are … likely to be appropriate at some point”. But Dr Lowe said in his monetary statement today the move was critical to supporting Australians. share . A number of experts and economists believe a cut is coming, following a change in wording from the RBA governor Philip Lowe's September meeting minutes and a speech by RBA deputy governor Guy Debelle in late September. This SoMP includes the full detail of its updated forecasts. RBA Statement on Monetary Policy RBA Forecasts a Slower Recovery The Reserve Bank released its quarterly Statement on Monetary Policy earlier today, which provided insights on the RBA’s thoughts around the outlook. 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