BREAKING: RBA Announcement

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April, 2020: 

Following two recent cash rate reductions, the Reserve Bank of Australia (RBA) has just announced its April decision.

Australia's official cash rate has been left unchanged at its current record low of 0.25%, as was largely expected.

RBA governor Philip Lowe has said 0.25% is the “effective lower bound” for the cash rate, meaning further reductions wouldn’t have any added benefit for the economy.

The RBA has stated they would not increase the cash rate until inflation is well within the 2-3% target range, and the labour force is trending towards full employment, which has previously been referenced as an unemployment rate of 4.5%.

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


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