RBA Updates

The Reserve Bank of Australia (RBA) Monetary Policy Board kept interest rates unchanged at the July meeting, with the cash rate target remaining at 3.85% and the interest rate on Exchange Settlement balances staying at 3.75%.

The RBA Monetary Policy Board reduced its interest rates by 25bps, taking the cash rate target to 3.85% and the interest rate on Exchange Settlement balances to 3.75%. The decision was in line with market expectations.

As expected, the RBA Monetary Policy Board kept the cash rate unchanged at 4.10% at its inaugural meeting. The RBA has welcomed the progress on inflation, but is not yet confident if this progress will continue, especially given the recent rise in uncertainty.

The RBA Board decided to cut its policy interest rates by 25bps at its February meeting, taking the cash rate target down to 4.10%. However, the decision was a ‘hawkish’ cut, with the RBA Board saying explicitly that they will remain cautious about further monetary policy easing.

The Reserve Bank of Australia (RBA) Board kept interest rates unchanged at the December meeting, with the cash rate target remaining at 4.35% and the interest rate on Exchange Settlement balances staying at 4.25%.

The RBA Board kept interest rates unchanged at the November meeting, with the cash rate target remaining at 4.35% and the interest rate on Exchange Settlement balances staying at 4.25%. The decision was in line with market expectations. The RBA today again implied that any cash rate cuts are unlikely in the coming months.