RBA December 2020

1 Dec

Cash rate remains at record low of 0.25%

The Reserve Bank of Australia (RBA) has kept the official interest rate at 0.10% following November’s historic cut.

While the RBA board believes Australia’s recession is now over, they want to support the economy’s recovery by holding the rate at its record low.

Speaking after November’s board meeting, RBA governor Philip Lowe revealed that the bank does not expect to increase the official cash rate for at least 3 years.

RBA DECEMBER 2020 STATEMENT

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