Reserve Bank of Australia – Monetary Policy Decision
Posted on 7th April 2020 by Ashley Dawson
At its meeting today, the Board of the Reserve Bank of Australia has left the cash rate unchanged at 0.25%, after it announced an emergency rate cut back on 19 March 2020 in relation to the COVID-19 crisis.
COVID-19 remains first and foremost a very major public health issue, but it is also having very significant effects on economies and financial systems around the world. Many countries are expected to experience large economic contractions as a consequence of the public health response. Large increases in unemployment are also expected. Once the virus is contained, a recovery in the global economy is expected, with the recovery supported by both the large fiscal packages and the significant easing in monetary policy that has taken place.
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