Lee Sue Ann, Economist at UOB Group, reviewed the latest decision by the RBA at its monthly monetary policy meeting. Key Quotes “As expected, the Reserve Bank of Australia (RBA) left the official cash rate (OCR) on hold… at a record-low of 0.25%.” “To recap, the RBA had decided to take interest rates to a record-low, buy government bonds (QE) in a bid to reduce national funding costs and extend a AUD90bn credit line to banks to lend to small businesses.” “Since QE begun on 20 March, the RBA has bought around AUD36bn buying state government bonds on the secondary market in a move that has pushed down interest rates on that debt.” “The RBA reiterated its commitment to ‘doing what it can to support jobs, incomes and businesses as Australia deals with the coronavirus’. For now, we hold the view of the OCR staying put at 0.25%, and QE will remain for at least some time. This will continue to provide support for the government’s fiscal policy, which involves about AUD$80bn of measures including cash payments to small businesses and loan guarantees.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Price Analysis: Rebound still seen reaching the 1.0990 area FX Street 2 years Lee Sue Ann, Economist at UOB Group, reviewed the latest decision by the RBA at its monthly monetary policy meeting. Key Quotes “As expected, the Reserve Bank of Australia (RBA) left the official cash rate (OCR) on hold… at a record-low of 0.25%.” “To recap, the RBA had decided to take interest rates to a record-low, buy government bonds (QE) in a bid to reduce national funding costs and extend a AUD90bn credit line to banks to lend to small businesses.” “Since QE begun on 20 March, the RBA has bought around AUD36bn buying state government bonds on the secondary… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
