Given the relatively long period, the uncertainty around the end of the year, and geopolitical developments in January, the Reserve Bank is going to want to make sure everything is in order before going on holiday. Given the relatively long period, the uncertainty around the end of the year, and geopolitical developments in January, the Reserve Bank is going to want to make sure everything is in order before going on holiday. In the meantime, the AUD quite likely will be more subject to external factors, such as the ongoing tensions with China, than monetary policy. Expectations are for the meeting to be uneventful. The RBA is scheduled to have its last meeting for the year, and won’t meet again until February 2nd. The savings rate has more than doubled since pre-pandemic levels. With that, several analysts expect the RBA to be less chipper this time around, likely acknowledging that the outbreak could have more repercussions on the Australian economy than previously thought. One of the timing quirks of this meeting is that it comes one day before the release of Q3 GDP figures. finance; economy; interest rates; RBA faces tough rates call as election looms. Westpac are expecting the RBA to cut the cash rate, the three year bond target to 10 basis points, and make new lending to banks, through the term funding facility, even cheaper at the same rate. A few days after the RBA’s decision, UBank announced it … About the RBA rate decision RBA Interest Rate Decision is announced by the Reserve Bank of Australia. The other factor we want to pay attention to is the evolution of retail sales, where we are already seeing a bit of a hiccup with monetary and fiscal policy. The Reserve Bank of Australia on Tuesday announced its decision to lower the cash rate target to 0.1%. While retail sales have shown a healthy rebound, there might be a cap on their growth as customers loathe to spend. Even though, given the CPI rate, they are practically negative now. Even though, given the CPI rate, they are practically negative now. RBA Interest Rate Decision Discussion. After the historic rate cut to 0.1% at the last meeting, economists unanimously believe that the RBA will make no changes to policy this time. Therefore, the next rate change can only be a raise. As the debate around masks shows, just because politicians think something is a good idea, it doesn’t mean everyone is going to go along with it. After the historic rate cut to 0.1% at the last meeting, economists unanimously believe that the RBA will make no changes to policy this time. Expectations are for the meeting to be uneventful. We are sharing this data with you because we believe the US…, Interestingly, this economic measure's "retracement of the decline from February is a Fibonacci 61%" By Elliott Wave International The 7.4% GDP growth in Q3 notwithstanding, the evidence shows that the U.S. economy remains fragile. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. However, there is unlikely to be any fireworks from the meeting or the accompanying statement. He is a former CFO with a degree in Financial Management and has been published in both English and Spanish. Images: Getty. The Board meetings, during which the country's monetary policy is determined, are held 11 times a … So much so that we expect the policy statement to be identical to last time, with the same forecasts. RBA deputy governor Guy Debelle says the bank's interest rate cut and $100 billion quantitative easing policy has already started working. So much so that we expect the policy statement to be identical to last time, with the same forecasts. Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts. We use cookies to ensure that we give you the best experience on our website. And it is far outpacing the levels seen during the last recession. But the savings rate in Australia shows that people are responding to the pandemic by not spending. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. RBA Interest Rate Decision/Decisión del Banco de la Reserva de Australia sobre los Tipos de Interés. The official cash rate is now 0.10%. Ongoing interest rates for the CommBank GoalSaver Account will now sit at 0.65% p.a. Cash Rate Target. The decision is adopted by the RBA Board. So much so that we expect the policy statement to be identical to last time, with the same forecasts. 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