At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.

• The Australian Economy experienced a sharp contraction in the June quarter, though the decline was smaller than in most other countries, and smaller than previously expected.
• Wage and prices pressures remain very subdued .
• The economy is being supported by the substantial, coordinated and unprecedented policy easing over the past six months.

The Board is committed to do what it can to support jobs, incomes and businesses in Australia.

To view the full statement of Philip Lowe, Governor of the Reserve Bank, please click here.

Published : 29 Sep 2020