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 rollout of vaccines is supporting the recovery of the global economy, although the recovery is uneven. While there are still considerable uncertainties regarding the outlook, the central case has improved.
• The economic recovery in Australia is well under way and is stronger than had been expected.
• These various monetary measures 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 is 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 : 06 Apr 2021