RBA Rate Decision Australia
Meeting eleven times a year, the Reserve Bank of Australia stands as the central monetary authority for the Australian economy. As a result, the bank main responsibility is to keep inflation tamed to the target 2-3 percent band set by its own policy makers by changing the overnight cash rate. By adjusting the overall rate, central bankers attempt to keep price increases at the consumer and producer level stable while maintaining healthy economic growth.
The Reserve Bank of Australia Cash Rate Target decision has a huge influence on its financial markets. Changes in rates affect interest rates in consumer loans, mortgages, and bond rates. Since short term interest rates essentially reflect the return on holding a currency, rate decisions usually affect the exchange rate of the Australian Dollar. Increases in rates or even expectations for increases tend to cause the Australian Dollar to appreciate, while rate decreases cause the currency to depreciate.
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