BREAKING: RBA Announcement

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June, 2020: 

The Reserve Bank of Australia (RBA) has just announced its June decision, with the official cash rate being left on hold at the record-low level of 0.25 per cent.  The decision comes as the nation's economy begins to awaken following the coronavirus restrictions.

The Reserve Bank of Australia (RBA) decided to keep the official cash rate on hold as improving consumer sentiment and inflation levels prompted less central bank intervention.

RBA Governor Philip Lowe said several factors around COVID-19 urged the nation's top economists to keep their hand steady.

"The rate of new infections has declined significantly and some restrictions have been eased earlier than was previously thought likely. And there are signs that hours worked stabilised in early May, after the earlier very sharp decline. There has also been a pick-up in some forms of consumer spending", wrote Mr Lowe in his monetary statement.

"The Board is committed to do what it can to support jobs, incomes and businesses and to make sure that Australia is well placed for the recovery."

For the official RBA article, please visit the Reserve Bank’s website.

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