Reserve Bank news

At its latest policy meeting, the Reserve Bank of Australia kept interest rates unchanged at 0.25%, as the country continues to grapple with the fallout from the coronavirus pandemic.

While economic output in Australia saw a significant contraction in March and April, minutes from the RBA’s June meeting suggest the current downturn could be “shallower than earlier expected.”

The RBA continues to monitor the current downturn as it unfolds, with Governor Philip Lowe confirming that both fiscal and monetary policy decisions are working as intended.

In a senate inquiry today, Reserve Bank Governor Philip Lowe suggested that the JobKeeper payment could be extended beyond its September expiry date, or potentially even survive in a different form.

It's clear that the coronavirus pandemic has put extreme pressure on the economy, but recent comments by Reserve Bank Governor Philip Lowe put the extent of the current crisis into clear focus.

Following a submission to the senate, the Reserve Bank of Australia (RBA) has expressed its concerns over social media giant, Facebook’s planned cryptocurrency, Libra.

While there’s been some chatter about a potential cut, markets are fairly confident that the cash rate will be kept on hold in December, leaving February as the more likely date.

The RBA’s next meeting is only a few short weeks away, but recent comments by RBA Governor, Philip Lowe have sharply downgraded the chances of a November cut.

The Reserve Bank’s monthly meeting is just around the corner, and financial markets are confident that we’ll have another rate cut on our hands.

On Tuesday the Reserve Bank Board made the decision to cut the official cash rate by 25 basis points to 1.00% - a new record low and the first time we’ve witnessed back-to-back cuts since 2012.