Reserve Bank of Australia Monetary policy Meeting Minutes
RBA Kept Rates on Hold, but They Sounded Dovish Due to Coronavirus in China
Starts Tuesday, February 18, 2020 at 00:30
Updated Tuesday, February 11, 2020
The Reserve Bank of Australia kept the interest rates on hold for quite some time but in the last meeting, they turned dovish. Risks have increased for the Australian economy, as the report for Q4 of last year showed a slowdown to just 0.3%. The RBA has been keeping a slightly hawkish bias towards rate hikes, but in the previous meeting, they turned sort of dovish and are just as likely to cut interest rates now as to hike them. That day the Aussie ended 100 pips lower. In the previous two meetings, the RBA cut interest rates by 75 bps in total, although they left the door open to further cuts if the FED did so. The FED cut interest rates twice and the RBA cut them for the third time in the last meeting, to 0.75%. Although, we heard chairman Lowe seem happy earlier with the current levels of interest rates. But, coronavirus has hurt the sentiment and the Chinese economy, so the RBA turned more dovish in the last meeting. Please follow us for live coverage of this event by experienced market analysts.
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About Reserve Bank of Australia Monetary policy Meeting Minutes
Two weeks after an interest rate decision, the Reserve Bank of Australia (RBA) publishes a transcript of its previous meeting. The RBA minutes are a full disclosure of the dialogue surrounding the policy decisions and competing viewpoints. Member votes are documented, as is commentary surrounding upcoming policy decisions.