RBA’s Stevens poker-faced on New Rate Cuts

Australia’s central bank said it was appropriate to leave interest rates steady this month while it assessed the impact of past easing on the economy.

In minutes of its June 2 meeting, where the Reserve Bank of Australia (RBA) kept the cash rate unchanged at a record low 2.0 percent, the central bank reiterated its view that monetary policy should be accommodative.

“Having eased policy at the previous meeting, members judged that it was appropriate to leave the cash rate unchanged and to assess information on economic and financial conditions as it become available,” the central bank said, using almost identical wording in its post-meeting statement.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.