Tuesday, 22 May 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Australia Holds Rate for Record 16th Meeting Amid Currency Gains
Tuesday, 6 February 2018 11:06 WIB | FISCAL & MONETARY |RBA

Australia's central bank left interest rates unchanged for a record 16th meeting as a resurgent currency threatens to hurt exporters and further compress inflation.

Reserve Bank of Australia chief Philip Lowe kept the cash rate unchanged at 1.5 percent Tuesday -- in line with market pricing and economists™ forecasts. The governor is cutting an increasingly isolated figure in the developed world as counterparts either consider or start to remove stimulus in response to an upswing in global economic growth.

œThe low level of interest rates is continuing to support the Australian economy, Lowe said in a statement. œFurther progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual.

The Australian dollar traded at 78.62 U.S. cents at 2:36 p.m. from 78.72 prior to the release.

The RBA board, facing recession-level wage rises and record household debt, has sought to be a stabilizing force as the economy adjusts to a services-driven expansion. That™s shown signs of success as firms have begun investing and boosting hiring. But the currency™s 5 percent rebound since early December is a potential hurdle to returning growth to average and inflation to target.

œWe continue to see a more challenging year ahead for the Australian consumer and another sub-par year for wider economic growth, Matthew Hassan, a senior economist at Westpac Banking Corp., said ahead of the decision. œPolicy will remain firmly on hold.

Source: Bloomberg

RELATED NEWS
Powell downplays risks to emerging market economies from Fed policies...
Tuesday, 8 May 2018 14:34 WIB

Ekonomi pasar negara berkembang harus dapat mengatur dirinya seiring ekonomi pasar negara maju bergerak menuju kebijakan moneter yang lebih ketat, kata pimpinan Federal Reserve Jerome Powell, pada har...

Fed Leaves Rates Unchanged, Says Inflation Close to Target...
Thursday, 3 May 2018 01:13 WIB

Pejabat Federal Reserve meninggalkan suku bunga tidak berubah, mengakui inflasi mendekati target tanpa menunjukkan niat untuk membelok dari jalur bertahap kenaikan suku bunga mereka. "Inflasi pada ba...

Australia Holds Interest Rate as Employment Bonanza Winds Down...
Tuesday, 1 May 2018 12:43 WIB

Australia mempertahankan suku bunga utamanya tidak berubah pada rekor terendah Selasa - seperti yang diharapkan - di tengah perlambatan jumlah perekrutan. Gubernur Reserve Bank Philip Lowe mempertaha...

SNB Jordan Says 'Premature' to Tighten Monetary Conditions...
Friday, 27 April 2018 15:28 WIB

Depresiasi Swiss franc adalah "melegakan" bagi ekonomi, tetapi masih terlalu dini untuk menyesuaikan kebijakan, Presiden Swiss National Bank (SNB) Thomas Jordan mengatakan. Setelah bertahun-tahun men...

BOJ Maintains Policy Rate, Keeps 10-Year Bond Yield Target...
Friday, 27 April 2018 10:17 WIB

Bank of Japan mempertahankan target imbal hasil obligasi 10-tahun JGB sekitar nol persen setelah pertemuan Jumat. BOJ menjaga tingkat keseimbangan kebijakan di -0.100%. Semua ekonom yang disurvei me...

POPULAR NEWS
These 3 Drivers Will Support Gold In The Short-Term - ING

Even as gold continues to trade below $1,300,...

Gold pares losses after tapping its lowest level of the year

Gold futures settled Monday with only a modest...

Hong Kong, China Stocks Rise After China-US Agreement (Review)

Hong Kong and mainland stocks kicked the week...

LATEST NEWS
Spot Gold Erases Losses as Euro Bounces, Silver Climbs

Gold wiped out earlier losses to trade little changed as the euro rallied against the dollar. Treasury yields climbed 1 basis point. Bullion for immediate delivery +0.1% to $1,294.02/oz at 9:52am in London. Bloomberg Dollar Spot Index -0.2%. Metal...

Most Asian Stocks Fall as Shares From Japan to Vietnam Decline

Most Asian stocks declined as Japanese shares fell while Taiwan™s benchmark gauge failed to hold on to gains as investors weighed easing trade tensions between the U.S. and China. The MSCI Asia Pacific Index rose 0.2 percent to 174.46...

Dollar Slips as Rally Loses Momentum

The dollar fell on Tuesday from a five-month high, losing momentum after a broad rally prompted by rising U.S. bond yields and relief at an easing in U.S.-China trade tensions. The dollar's index against a basket of six major currencies last...