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 the 3-year Australian Government bond.
- The outlook for the global economy has improved over recent months due to the ongoing rollout of vaccines.
- In Australia, the economic recovery is well under way and has been stronger than was earlier expected.
- The current monetary policy settings are continuing to help the economy by keeping financing costs very low, contributing to a lower exchange rate than otherwise, and supporting the supply of credit and household and business balance sheets.
The Board remains committed to maintaining highly supportive monetary conditions until its goals are achieved.
To view the full statement of Philip Lowe, Governor of the Reserve Bank, please click here.
Published : 19 Mar 2021