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

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam