BREAKING: RBA Announcement

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August, 2019: 

The Reserve Bank of Australia (RBA) has made its August cash rate announcement, following two consecutive cuts in the preceding months. The RBA held the rate at its record low 1.0%.

The decision was widely predicted considering that cutting the official cash rate three months in a row has only happened twice before (early 2001 and again during the Global Financial Crisis in late 2008).

The pause will allow the RBA time to assess the effects of the two previous rate cuts on the economy and consumer spending.

While today’s decision to hold was expected, it is possible there may be at least one more cut to come later this year.

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

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