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By August 2013, interest rates had been cut to 2.5%, with the RBA monthly meeting minutes citing domestic economic growth below long-term trends, the relatively high value of the Australian dollar, and the "subdued" labour market as the justification for the historically low [10] official interest rates. [11] In May 2016 the RBA lowered the ...
Governors of the Reserve Bank of Australia: 1 H. C. Coombs: January 1960 July 1968 [9] [14] 2 Sir John Phillips: KBE: July 1968 July 1975 [9] [15] 3 Sir Harold Knight: KBE, DSC: July 1975 August 1982 [9] 4 Bob Johnston: AC: August 1982 July 1989 [9] 5 Bernie Fraser: September 1989 September 1996 [9] 6 Ian Macfarlane: AC: September 1996 ...
The RBA Board meets regularly, and following each meeting, a media release is issued at 2:30 pm Sydney Time announcing any changes to the Cash Rate Target, which take effect the next day. [2] They meet eight time a year as of 2024 instead of 11 in prior years. Previously they would meet the first Tuesday of the month excluding January.
The Fed’s decision is now just 15 minutes away. Greg McBride Headshot ... Only in 2010 did the Fed keep its interest rate meeting announcement scheduled for the Wednesday after Election Day ...
The mechanism of this is the official cash rate which affects short-term interest rates. The bank will provide cash overnight at 0.50% above the cash rate to banks against good security with no limit. Furthermore, the bank will accept deposits from financial institutions with interest usually at the official cash rate.
Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of ...
The document stated that “several [meeting participants] observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the ...
7 May – The Reserve Bank of Australia announces it will leave the interest rate steady at 4.35%. [155] 8 May – Cumberland City Council votes to ban books depicting same-sex relationships from their libraries, citing "sexualisation" concerns. [156]