empty
 
 

2020.10.0604:02:00UTC+00Australia Keeps Rate, QE Unchanged

Australia's central bank retained its benchmark interest rate at a historic low and quantitative easing unchanged on Tuesday.

The board of Reserve Bank of Australia, governed by Philip Lowe, decided to maintain the cash rate and the targeted yield on three-year government bonds of 25 basis points.

The board also retained the parameters for the expanded Term Funding Facility.

The bank said it will maintain highly accommodative policy settings as long as is required and will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2-3 percent target band.

"The Board continues to consider how additional monetary easing could support jobs as the economy opens up further," the bank said.

Policymakers assessed that the national recovery is likely to be bumpy and uneven and it will be some time before the level of output returns to its end 2019 level.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback