RBA October 2020

9 Oct

Cash rate remains at record low of 0.25%

The Reserve Bank of Australia (RBA) has held the official cash rate at 0.25% for the seventh month in a row, despite some speculation that the rate would fall in October.

RBA governor Philip Lowe said that while an economic recovery was underway, the board would keep funding costs low to support jobs, incomes and businesses.

The official statement from the RBA is below.

RBA OCTOBER 2020 STATEMENT

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