The RBA has announced its April decision on interest rates following a month of unprecedented policy measures.
The RBA held rates at 0.25 per cent.
The RBA’s usual monthly meeting comes after an emergency rate cut in late March, when the bank also launched Australia’s first quantitative easing program.
“The board is committed to doing what it can to support jobs, incomes and businesses as Australia deals with the coronavirus,” said RBA governor Philip Lowe.
“The comprehensive policy package announced last month will also support the expected recovery. The board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2-3 per cent target band.”
It is now likely that rates will stay at 0.25 per cent for the foreseeable future, given that the RBA views this as their “effective lower bound”.
"There is little benefit to be gained by going to zero or negative based on the experience of Europe and Japan," said AMP Capital chief economist Shane Oliver.
The directors of First Guardian Master Fund’s responsible entity, Falcon Capital, insisted its investments are fully ...
Adopting novel hiring and interviewing processes could be key to finding the best talent for your company, according to ...
Adviser numbers have spiked quickly following a sharp decline ahead of 30 June, with 122 either joining or rejoining the ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin