empty
 
 

2019.08.1302:55:00UTC+00RBA's Rate Cut To Provide Additional Support To Demand, Says Kent

The weakness in the Australian dollar following the interest rate reduction is underpinning economic growth, Reserve Bank of Australia Assistant Governor Christopher Kent said Tuesday.

RBA had resorted to back-to-back rate cuts in June and July, taking the key rate to a record low 1.00 percent.

Kent observed that the change in the monetary policy stance has lowered the cost of funding and this has passed through to business and household borrowers.

"And notwithstanding an easier stance of monetary policy globally, the decline in interest rates in Australia has contributed to the depreciation of the Australian dollar," said Kent.

"That broad-based easing in financial conditions in Australia will provide some additional support to demand in the period ahead," he noted.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback