RBA Holds Interest Rate at 2%

The Reserve Bank has left its interest rate at a record low of 2% for the second month in a row, but has left the door open for another rate cut.

RBA governor Glenn Stevens said in a statement that although the economy is growing at a below average pace, one good sign is that there are higher rates of borrowing.

“Credit is recording moderate growth overall, with stronger borrowing by businesses and growth in lending to the housing market broadly steady over recent months,” he said.

Stevens said that while the Australian dollar had fallen against the US dollar, it has not dropped as much against other currencies.

via The Guardian

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza