Australia Rates on Hold
Australia Rates on Hold

Australia Rates on Hold

Australia Rates on Hold

Australia’s central bank held interest rates at a record low 1.50% Tuesday ahead of quarterly economic growth data analysts expect to come in weak, AFP reported. The Reserve Bank of Australia slashed 300 basis points from borrowing costs between November 2011 and August last year to support non-resources industries as the economy transitions out of a mining investment boom. It has remained on hold since then. “The outlook continues to be supported by the low level of interest rates,” said central bank governor Philip Lowe of the widely-anticipated decision. He said the transition to lower levels of mining investment was “almost complete” and business conditions had improved in parts of the economy not directly affected by the decline.

Short URL : https://goo.gl/jjatML
  1. https://goo.gl/j3Lv0v
  • https://goo.gl/r787y3
  • https://goo.gl/1nC2QB
  • https://goo.gl/xVP9G3
  • https://goo.gl/sY9Bz6

You can also read ...

The rules say that EU countries should have budget deficits below 3% of GDP and public debt below 60% of GDP.
National budgets of six eurozone countries may break the...
Cambodia Sustains Strong Growth
Cambodia’s economy is forecast to grow 6.9% next year,...
UK Slashes Growth Projections
Britain slashed its official projections for economic growth...
All three sides can’t agree on a few key issues.  Top of the list: The manufacturing of cars.
No meaningful progress is being made in NAFTA trade talks...
AT&T-Time Warner Merger Case Politically Motivated
The US Justice Department’s lawsuit to block AT&T’s $85...
Mexico Boosts Minimum Wage
The bittersweet news for Mexico’s poorest workers: the...
Iraq to Resume War Reparations to Kuwait
The UN Security Council’s compensation agency has announced...
Gold Inches Up as Dollar Dips
Gold prices crept up on Wednesday amid a softer dollar, with...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.