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Australia’s central bank holds rates, patient on policy -Breaking

by Mike Robinson

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SYDNEY (Reuters – Australia’s central banks left their cash rate at 0.1%, a new record. They said inflation was lower in Australia than other countries and that they were prepared to wait for policy changes.

After wrapping up the December policy meeting the Reserve Bank of Australia (RBA) stated the Omicron Coronavirus variant’s emergence was an unexpected source of uncertainty but it wasn’t expected to slow down the economic recovery.

Many analysts expected this week to be steady after last month’s surprise departure by the central banks of its commitment to maintaining bond yields at a super low level. [AU/INT]

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