RBA Interest Rate Announcement 7th July 2020

At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.

  • Leading indicators have generally picked up recently, suggesting the worst of the global economic contraction has now passed.
  • Globally, conditions in financial markets have improved. Volatility has declined and there have been large raisings of both debt and equity.
  • The Bank’s market operations are continuing to support a high level of liquidity in the Australian financial system.
  • Not withstanding the signs of a gradual improvement, the nature and speed of the economic recovery remains highly uncertain.

The Board is committed to what it can to support jobs, incomes and businesses and to make sure that Australia is well placed for the recovery.

To view the full statement of Philip Lowe, Governor of the Reserve Bank, please click here.


Published : 06 Jul 2020