Stock Groups

Australia’s central bank holds rates, drops yield target -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Two women stand next to the Reserve Bank of Australia Headquarters in central Sydney on February 6, 2018, Australia. REUTERS/Daniel Munoz

SYDNEY, (Reuters) – Australia’s central banks left their cash rate at 0.1% Tuesday. However they dropped both a promise to keep bond yields low and the projection that no interest rates would rise until 2024.

The Reserve Bank of Australia (RBA), wrapping up November’s policy meeting, stated that the removal of the yield target was a result of an improved economy and unexpectedly high third quarter inflation readings.

Philip Lowe (RBA Governor) stated that “The Board is willing to be patient with sub-inflation to not exceed 2.5% at 2023 end and for wages to increase gradually.”

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]