RBA Keeps Rates Steady at 1.5 per Cent Under New Governor Philip Lowe

The Reserve Bank of Australia has kept the cash rate at a record low 1.5 per cent at the first meeting chaired by new governor Philip Lowe.

“The board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time,” the RBA said in a statement accompanying the decision on Tuesday.

The decision came as no surprise to economists or financial markets, which had tipped a zero per cent chance of a rate cut this month.

The Sydney Morning Herald

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.