At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the current policy settings, including the targets of 10 basis points for the cash rate and the yield on 3-year Australian Government bonds, as well as the parameters of the Term Funding Facility and the government bond purchase program.
The Board will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The Board is prepared to do more if necessary.
To view the full statement of Philip Lowe, Governor of the Reserve Bank, please click here.
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