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RBA Leaves Rates Unchanged

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Australia’s central bank left interest rates at record lows on Tuesday, the longest stretch without a change in almost three decades, and looked set to extend this period of “masterful inaction” for some time yet.As widely expected, the Reserve Bank of Australia (RBA) ended its April policy meeting with the benchmark rate at 1.5 percent, where it has been since a cut in August 2016. The run of 20 months without a move is the longest since the cash rate was first introduced in 1990.”Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing,” said RBA Governor Philip Lowe in a brief statement.

Source: Australia’s central bank leaves rate unchanged at 1.50% – CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.
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