RBA’s stance on holding the rate steady

  • Feb 05, 2020 AEDT
  • Team Kalkine

Today’s address by the RBA Governor Philip Lowe acknowledged the costs and risks associated with very low interest rates and has held the interest steady at 0.75%. Also, RBA is of the view that the GDP growth for 2020 shall be largely unaffected due to the government grants and insurance payments that shall assist many people. Additionally, the Governor said:

  • The effects of the bushfires would reduce GDP growth by around 0.2 percentage points across the two quarters;
  • The RBA expects further progress to be made towards full employment and the inflation target, although the progress is likely to remain slow;



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