Australia cut interest rates to a fresh record low in response to a weak economic outlook and to discourage further strengthening in the currency. Governor Glenn Stevens and his board lowered the key rate to 2 percent from 2.25 percent, the Reserve Bank of Australia said in a statement Tuesday. The move was predicted by …
RBA Cites Weak Growth Outlook in Cutting Cash Rate to 2% Read More »
The Reserve Bank of Australia (RBA) decided on Tuesday to lower the cash rate by 25 basis points to a record low 2 per cent, effective 6 May 2015. The decision to reduce rates by 25 basis points was widely expected, even as the economy is showing signs of improvement and as the housing market …
As Widely Expected, RBA Lowers Cash Rate 0.25% to Record Low 2% Read More »
Australia’s dollar held its longest losing streak in a month as investors bet the central bank will decide to cut interest rates that are already at a record low. Swaps markets give better than 70 percent odds the Sydney-based Reserve Bank of Australia will lower the cash rate target on Tuesday to 2 percent from …
AUD/USD Remains Steady Around 0.7850 as RBA Decision Looms Read More »
Traders and economists are the most united they’ve been this year that central bank Governor Glenn Stevens needs to cut rates Tuesday in the face of a stronger currency. The market is pricing in a better than 75 percent chance borrowing costs will fall to a fresh record of 2 percent and 25 of 29 …
